Viewpoints on Innovation

The CINO’s Team #6 - Strategy Support

Organizational Effectiveness Consumer Goods High Technology Industrial Manufacturing Medical Device Healthcare Chief Innovation Officer
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The Chief Innovation Officer is responsible for formulating and communicating innovation strategy for the company.  They also need the capability to identify disruptive threats and opportunities. Someone to support these responsibilities can be a valuable addition to the corporate innovation team.

Articulating strategy at a level of detail that enables the portfolio manager and business unit leadership to determine alignment is a difficult job. Going beyond high-level statements and platitudes to get to specific allocation of investment requires artful analysis and alignment to the long-range business plan.

There are several strategic frameworks that can and should be employed to formulate strategy and test alignment. Horizons of growth, disruptive innovation, the growth-share matrix, and many others are valuable tools for the individual responsible for supporting innovation strategy at the corporate level.

Identifying threats and opportunities involves continuous monitoring of the competitive environment and collaboration with counterparts in the business units. Strategic reports to leadership that occur on the same schedule as portfolio reviews are a tool to inform decision makers and point out white spaces that may be considered opportunities.

Depending on the organization this role may be a direct report to the Chief Innovation Officer or may be a part of the corporate strategy and development team. Either way, the work is important and required for the organization to deliver on the promise of innovation. 


More Reading

The CINO’s Team #1 - Portfolio Analyst

The CINO's Team #2 - Performance Analyst

The CINO’s Team #3 - Capability Leaders

The CINO's Team #4 - Innovation Specialists

The CINO's Team #5 - Scouts and Incubators

The CINO's Team #6 - Strategy Support

The CINO’s Team #7 - Information Systems Support

The CINO’s Team #8 - Informed Outsiders

Originally published on www.thechiefinnovationofficer.com

Originally published on December 11th, 2014

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Topics: Bill Poston, Chief Innovation Officer, CINO, CINO's Team, Collaboration, Corporate Strategy, Innovation, Innovation Strategy, Responsibilities, Strategy, Strategy Support

About the Author

Bill Poston

Bill Poston

For the past 30 years, Bill has helped executives in technology-driven industries transform their competencies to deliver results. He is a highly regarded consultant, speaker, and writer on the topics of innovation strategy, product development, portfolio management, technology commercialization, and the software systems that enable innovation. Keep up with Bill's latest research and thoughts on innovation and the rising role of the Chief Innovation Officer at www.TheChiefInnovationOfficer.com.
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