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Please consider each of the four dimensions of innovation strategy with respect to your company and its typical approach to innovation (across product teams, business units, etc.) Please set the slider so that it represents your company’s innovation approach.
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1) Incremental Change
New innovations are generally moderate improvements on existing products
Breakthrough Innovation
New innovations (product, process, business model) are often completely new products or major changes in terms of technology or market application
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2) Fast follower
Quickly builds off of experience of first movers to capture market share without incurring high degree of risk. Attempts to learn from and improve on the efforts of the initial innovator
First to Market
Aims to be first to introduce service, process, or business model. Intends to capture high market share by creating market, category, or segment. Willing to take on high risk of product failure
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3) Technology Forward
Ideas for innovations come from within (e.g., company R&D labs); often found when seeking applications for new technologies. Innovation process has heavy R&D orientation; focused on discovering differentiation technologies
Market Back
Ideas for new innovations are derived from market needs. Innovation process is strongly market oriented; focused on determining unmet needs from existing customers
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4) Indirect Customer
Insight Customer insight gathered through indirect methods (e.g., observing industry trends, competitive insights) and feedback initiated by customers
Direct Customer insight
Actively engages existing customers to determine their needs are shape new innovations
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