Crafting a robust corporate innovation strategy empowers your organization to thrive in a dynamic business environment. By seizing opportunities, mitigating risks, and ensuring long-term relevance, your company can stay ahead of the competition. Our structured approach drives innovation, aligning it seamlessly with your business objectives while fostering a culture of continuous improvement and growth across the organization.
A recent case study discusses developing a comprehensive innovation strategy for the Nigerian National Petroleum Company (NNPC) and its dedicated innovation arm, RTI. This involved operational strategy, building technology infrastructure, defining processes, training, and organizational development – essentially covering all aspects of establishing an effective innovation program.
Our Innovation Management team emphasizes the importance of taking a holistic, systems-based approach to innovation strategy. While breaking down the strategy into distinct components (processes, roles, infrastructure, etc.), it is crucial to understand how these elements interact and align with the overall corporate strategy.
A key part of the engagement involved designing new business processes across RTI and NNPC’s various business units. This highlights the importance of optimizing and integrating processes to support and enable innovation efforts effectively.
Developing an innovation strategy also requires defining new roles, responsibilities, and accountabilities within the organization. This organizational development aspect ensures that the right structure and talent are in place to execute the innovation strategy successfully.
Implementing the right digital infrastructure is critical for tracking progress, measuring key performance indicators (KPIs), and enabling continuous improvement of the innovation initiatives. Data-driven insights are essential for aligning innovation efforts with corporate strategy and driving desired outcomes.
Dr. Heim also underlines the need for different teams and disciplines to work together seamlessly to execute the various components of the innovation strategy effectively. This was made effortless by incorporating the Ezassi Innovation Management platform and ensures that diverse perspectives of each NNPC employee is given a voice.
If interested in the full discussion, you can find excerpts from the interview here.
This overview will surely inspire any innovation leader looking to restructure or begin a new innovation program within their organization.
An Innovation Strategist is your partner in designing and managing your future innovation goals.
