Thursday, May 5, 2011

Strategic Agility: An Innovation Process that Marries Execution w/Corporate Strategy

By Hari Candadai, Senior Director, Product Marketing at Accept Corporation.

Innovation is taking center stage as one of the critical components of the U.S. economic recovery, and companies are waking up to the fact their innovation processes are broken. This means there are fresh eyes looking at the waste occurring in R&D spend. As a result, the lifeblood and critical driver of growth for most companies today is new product innovation.

This is widely acknowledged, but there is a problem: innovation is now more complicated than ever before.

Multi-layered products are being developed by multiple teams in multiple regions and that requires a careful coordination of complex dependencies, compatibilities, and timing.

So what do you do if you do not have the deep pockets like an Apple or a Google?
How can you holistically view, direct and manage the business from all aspects – top down from the executive suite, bottom-up from core staff with transparency through the whole process?

The first step towards this goal is to adopt a broader approach – one that requires a shift from treating innovation as a one-time 'invention' event to an ongoing, real-time integrated process. A process that aligns execution with corporate strategy. Let's call this process 'Strategic Agility.'

At its core, this process should operationalize a set of clear, codified best practices and capabilities that focus the entire organization on developing a constant pipeline of value - in new products, business models, and services.

Join us on the ‘Ultimate Journey’ on Monday, May 16th at the Front End of Innovation as Accept Corporation and Ultimate Software, a leading HCM solutions provider, share best practices on how to achieve strategic agility in this hyper-competitive, volatile environment and relentlessly deliver new breakthrough products that fuels your success.

About Accept 360: A sponsor of the Front End of Innovation, Accept Corporation delivers The Product Innovation Management solution that technology-driven companies use to decide which products to bring to market for the fastest time-to-profit. The Accept360 Suite is the only end-to-end solution that tightly links company and product strategy through ideation, portfolio planning, roadmaps, requirements and execution. Visit www.accept360.com and follow them @Accept360.

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