Many organizations don’t yet have a formal innovation strategy or program. In fact, many are set up in such a way that innovation is discouraged, even if unintentionally. The most senior decision-makers are commonly rewarded for operational efficiency and delivering short-term results. Through the lens of such a decision-maker, investment in innovation seems to be a “nice-to-have,” at best, and maybe even a frivolous pursuit. But they know in the back of their mind that the road to long-term growth requires innovation. One needn’t look far to find the gravestones of corporations that failed to make appropriate investments in new products, services, and business models. With this PowerPoint as a guide, you can construct a case for launching an innovation initiative that fits within the organization’s current strategy, and which benefits customers, employees, and shareholders.
It’s important distinguish this exercise of “the initial ask” from the exercise of developing the longer-term roadmap. These are related, but separate, exercises. With this guide, you can assemble the case for an initial investment in order to create the longer-term roadmap with support and buy-in.
Aaron Proietti is a Contributing Writer andFormer Innovation SVP and Chief Customer Advocate, Transamerica