Financial markets expect organizations to promote growth, which often pressures innovation efforts. Many see investing in innovation as a way to improve market performance. However, Harvard Business School’s Professor Gary Pisano, a leading expert on innovation, points out that “the main issue with innovation initiatives is the lack of a clear strategy.” Similarly, the late Professor Clayton Christensen noted that “about one in 10 companies can sustain growth that results in above-average returns for several years.” This aligns with evidence showing that as a company’s core business matures, finding new growth opportunities involves significant risk. Nonetheless, many organizations pursue innovation without a clear strategy.
At Mindfusion, we help businesses develop clear and coherent innovation strategies to support their growth goals. We do this by assisting leaders in identifying and formulating methods based on best practice insights and relevant market data.
To learn more about how Mindfusion.com.au can support your business, contact us today for a personalized consultation tailored to your specific needs.
References
Dyer, J. H., Gregersen, H. B., & Christensen, C. M. (2009). The Innovator’s DNA. Harvard Business Review, 87(12), 60–67.
Pisano, G. P. (2015). You Need an Innovation Strategy. Harvard Business Review, June, 44–54.