Our research shows that companies with strong innovation track records manage their innovation efforts as parts of a highly interrelated whole—an approach we call “total innovation.”
In general, effective innovators take a balanced portfolio approach, splitting their investments 70/20/10 between incremental, adjacent and transformational innovations. We have developed a framework to help you strike and maintain a similar balance across your innovation initiatives.
Initially, we help you identify and articulate a clear innovation ambition.
Then, we help you put in place the tools and infrastructure you need to manage each part of this integrated system, which helps keep you focused on playing both the long and the short game. In doing so, we also help you develop a powerful internal innovation management system to identify and accelerate your most promising ideas, kill those with little potential, and effectively improve the overall return on your innovation investments.
Open innovation is a systematic approach to engaging and directing external resources to find solutions for specific business opportunities and challenges.
It can reduce risk, engage external partners and create tremendous brand benefits. It is also no longer an option: Companies that do not harness its power risk being left behind. Our open innovation process provides a way to ignite breakthroughs that solve your greatest challenges. With deep experience in the various types of open innovation available, we help you cut through the hype to determine a strategy
that’s appropriate for you. Whether that’s through crowdsourcing, collaboration, or competition, we help you define your existing innovation condition and then decide where you should place your open innovation bets. We’ll help you design and structure your open innovation program and define a structured way to execute and implement it.
We all now understand that governments, companies, markets, and products are more interconnected and interdependent than ever before.
Just try finding the boundaries between a car, a computing system, an entertainment system and your cellular communications devices, for instance. Yet conventional ways of thinking about this are decades out of date and still based on the quaint idea that industries, sectors, and segments are separate.
With Convergences, a breakthrough way to visualize the complex interconnectedness of markets, we have developed a framework to help you tackle these opportunities before your competitors. We can help you boldly innovate in spaces that are not yet contested and controlled by others.