Linking your innovation projects to trends and upcoming technologies to identify “white spots” in your portfolio
Innovation is key to sustained competitive advantage in a dynamic global marketplace. An organization’s strategy determines what kind of innovation is required based on its customer value proposition. The aim is to establish a balanced innovation portfolio so that, in the event of a disruptive change in the market, the company already goes through a systematic process of creating new innovations, while at the same time maintaining current cash cows and reducing declining business.
The golden ratio for a balanced innovation portfolio can be expressed with the 70/20/10 model. 70 % of a company’s portfolio and budget allocation should, therefore, be aimed at protecting and maintaining the core business. Innovation efforts regarding “new” projects count for around 20 % of the company’s portfolio. 10 % is recommended to be of a transformational character and new to the market.
The ITONICS innovation and strategy platform can support you in:
Develop your portfolio strategy. Identify innovation opportunities and achieve fast results.
Combine strategy and innovation on one platform and create groundbreaking growth opportunities.
As part of the innovation portfolio management process, innovation projects and their relevance are constantly monitored. All innovation projects are linked to business-relevant trends and technologies on the collaborative platform of ITONICS.