Page 7 - INNOVATION STRATEGY EXAMPLE
P. 7
Core
Core innovation optimises existing products, services and/or assets in existing markets or for existing customers.
An example of Core Innovation at XXXXX P/L could be the re-configuration of Stockpile Zoning and re-design of the underpinning business processes to allow the storage of increased quantities of product in the stockyard.
Adjacent
Adjacent innovations incrementally expand existing business into “new to the company” business. A fictious example of Adjacent Innovation at XXXXX P/L could be to productise the Shipper’s Agency service and establish / sell this service in other domestic and international supply chains.
Transformational
Adjacent innovations incrementally expand existing business into “new to the company” business. A fictious example of Adjacent Innovation at XXXXX P/L could be to productise the Shipper’s Agency service and establish / sell this service in other domestic and international supply chains.
The overall impression of the staff is that XXXXX P/L concentrates on the core business, driving efficiencies, increasing throughput and improving risk and safety. It executes this extremely well and has a reputation for excellence, however there is a sense that there are numerous opportunities at XXXXX P/L to exploit. This will be executed on a core ambition level.
7
