Corporate Innovation Strategy involves determining how innovation will create value for potential customers, how the company will capture that value, and which types of invention to pursue. Five corporate innovation models are innovation teams, mastermind groups, startup-corporate partnerships, corporate accelerators, investments, and acquisitions.
The benefits of innovation can improve sales and customer relationships, reduce waste and costs, boost your market position, and improve employee relations. Tips for innovation strategies are the invention must be championed by CEOs, CEOs must have clear invention goals and metrics, CEOs must attract innovators, CEOs must engage the external invention community, and CEOs must create and identify disruptive, unproductive ideas.
To conclude, talk to an innovation strategist soon and find out how corporate strategies can help and bring value to your company. With so many benefits, it makes sense to check out these innovative strategies.