Vecta on Aligning Innovation and Business Strategy

Vecta Consulting

Aligning Innovation with Business Strategy

The consequences of unexpected events, often far away like 9/11, SARS or the financial crash, now propagate globally and can soon make nonsense of the best thought-out plans and strategies.

Competitors emerge from unexpected industries, former customers, or nowhere; former collaborators become fierce competitors; other competitors disappear almost overnight.

Technology opens up new, often lower cost, routes to customers through Internet PC, Interactive TV, SmartPhones, Tablets, and maybe even Games Consoles; it can also open up new ways of doing business, disrupting established value chains.

Businesses are subject to increasingly severe and sudden changes in their operating environments. Traditional planning and strategy setting processes, often maligned in the past as being more useful in the process than the result, are no longer of any significant benefit.

How then can you identify robust strategies, avoid unnecessary changes while stimulating the necessary innovation to implement the strategies, and secure an adequate return?
How do you engage the entire organisation and your customers, partners, suppliers, and investors in the effort to identify, articulate and communicate an effective business strategy?
How do you avoid unnecessary, ineffective or unprofitable change?
How do you encourage the essential innovation and use of supporting technology that will differentiate you from your competitors, be credible for your customers, and deliver lasting value by reducing costs and increasing revenue?

Neither traditional condition-driven, nor modern ambition-driven, approaches to strategy formulation have the entire answer. Strategy development must combine the best of these approaches with an assessment of all the associated risks and incorporation of considered mitigation measures for a number of disruptive scenarios of what may happen and the agility to adapt to whichever scenario appears to be in play currently.

Engaging as large a community as possible in the effort to temper strategic options, for developing the business from today's condition, with expert input to challenge assumptions and identify the anticipated risks involved in change and technology evolution, leads to a robust strategy that can be articulated more credibly to all stakeholders making alignment of their efforts more likely.

Clarity and consistency across all forms of communication - from web presence to face-to-face contacts - are increasingly important.

Being ambitious and considering likely technology evolution, while facing up openly to the risks involved in various strategic options are central to efficient and effective engagement of stakeholders in the profitable evolution of the business. Having a clear route supported by innovative internal use of available communications tools and events can be a very powerful accelerator of the alignment process.

Our Operations Experts Network is dedicated to exploring the key issues related to developments in business performance. This involves projecting the evolution of enterprise and plant level functionality, identifying strategic business needs and understanding revenue models and valuations.

Our extended network ensures we have the expertise to help you solve just about any business or technology problem.

More info from: Frank.Morris@vecta5.com

Vecta Consulting Limited, Mulberry House, 2 The Spinney,
Cottenham, CAMBRIDGE, CB24 8RN
Tel: +44 (0) 1954 250222, Fax: +44 (0) 1954 252333

ⰰ1-2014 Vecta Consulting Limited

Vecta5

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