ENTERPRISE INNOVATION IS CRITICAL FOR AN ORGANIZATION’S RESILIENCY.
At CGS Advisors, we specialize in Enterprise Innovation (Intrapreneurism), which differs from start-up Innovation (Entrepreneurism). Our base definition of Enterprise Innovation is simple but particular: Enterprise Innovation is the consistent application of new and unique ideas that support the firm’s corporate & business strategies and create stakeholder value. By focusing on the key aspects of this definition – ideas, strategy, and value – we can build a strong core of Innovation with our clients and ensure Innovation is strategically applied through the organization. But let’s take a step back for a moment – why do we focus on enterprise innovation?
WE SEE THE IMPORTANCE OF THE STRATEGY TO INNOVATION LINKAGE.
Innovation is at the heart of today’s global competition. More than 75% of C-level executives consider it the most important corporate capability. If properly positioned, Enterprise Innovation becomes the engine for strategic renewal and the needed mechanism to drive long-term competitive advantage. Furthermore, today’s environment is heavily influenced by the growing “Connected World,” shifting technology’s contribution to a firm’s innovation landscape. This connected effect is a market-differentiating force that CGS understands and for which we drive thought leadership with our clients.
WE HAVE DONE THIS BEFORE: CASE STUDIES & QUALIFICATIONS.
Sparred with innovation leadership on current program elements to confirm program structure, flush out pitfalls, and better understand the value of collaborative innovation.
Established a capability of innovation and supported the launch of consumer- and employee-facing technology innovations intended to capitalize on the emerging connected technology trends. (See Press Release)
Managed proof-of-technology and proof-of-concept activities to validate application potential and consumer and employee engagement with emerging technologies.
Operated a full-scale innovation function including ideation and portfolio management, process management, research and testing, business planning, and implementation handover.
Launched a membership-driven organization that brought innovators together to drive communication and collaboration. Click here for more information on Connected Detroit Innovates.
WE DRIVE SUCCESS THROUGH THE ENTIRE INNOVATION LIFECYCLE.
Many companies struggle with introducing or deriving value from their innovation efforts. They simply play “Innovation Theater.” Defining innovation and making it fit within an organization requires a strong linkage with those in the firm who control the firm’s corporate and business strategies (front end of the process) and the corporation’s execution and operations groups – often a PMO or Project Organization (back end of the process). See the image below for a view into this overall process and where we focus.
OUR SERVICES SPAN THE ENTIRETY OF THE INNOVATION FUNCTION.
To support strategy and project organization linkages and develop a strong core of Innovation, we offer three broad categories of Innovation Services. These services have been shaped through our collective experience sponsoring and running innovation programs at Fortune 50 companies, consulting SMB firms, and formally advising startups through accelerators and the venture capital community.
Like many leaders, you may not be sure what an innovation function ‘is’ in the context of your organizations – or if you should even be considering formalizing innovation at all. In this scenario, our engagements goals are to:
- Aligning on a common definition of innovation
- Confirming innovation capability & program structure
- Identifying and flushing out potential pitfalls
- Establishing innovation goals and intended value
f you’ve already defined the strategic value of innovation for your organization, you likely need to consider how to build a new capability, not just adjust what you already have. In this scenario, our engagements often include a focus on:
- Defining innovation, its agreed purpose, and fit to corporate / business unit strategy
- Designing a process and innovation governance approach (e.g., centralized/decentralized, process, etc.)
- Designing and launching the portfolio of ideas and innovation programs
- Establishing diverse sources of ideas, including internal, partner, and corporate venture capital programs
- Facilitating an innovation tool selection process to manage and scale efforts
We often work with clients who have an innovation function established but need support in developing breakthrough thinking capabilities. In this scenario, our engagements often include a focus on:
- Ensuring the linkage of innovation efforts to key firm strategies and market disruption
- Shaping strategies to future-proof and drive past the competition
- Establishing unique innovation projects that span traditional boundaries focusing on ecosystem-wide innovation and customer-centric experiences
- Breathing life into innovation programs by designing and running ideation programs
- Acting as innovation strategists – running proofs of technologies and proofs of concepts on behalf of the innovation team
We often continue on in a retained capacity to support our clients in operating their innovation function until they have a team assembled and trained to operate it. In this scenario, our engagements often include a focus on:
- Teaching how to “do” innovation by introducing tools and techniques for successful rollout and expanding an innovation program
- Running technology proofs of concepts and supporting the innovation portfolio
- Managing the full-scale innovation process, program, and team operation
- Implementing new technologies at the enterprise scale