Innovation

Innovation is no longer an option. Every industry is undergoing a rapid rate of structural change and just optimizing the current model is no longer sufficient. However, most innovation efforts fail, not because of a lack of good ideas but due to poor execution. Most companies do not have innovation efforts led by strong leaders, nor are they able to balance continuous improvement and breakthrough innovations. They lack the ability to measure innovation efforts, provide sufficient incentives, and methodologies and tools required to become an innovation powerhouse. Monitor Innovation, supported by its partner company in the Monitor Group, Doblin, has the ability and methodologies to address every aspect of innovation, and a track record of success in using them. Here is a brief description of what we do.

Setting Innovation Strategies
We help leaders set compelling innovation strategies for their organization. This would involve articulating future growth gap and then determining the role of game-changing and sustaining innovations in closing that gap. Next, we help identify new opportunity spaces for the organization to consider and guide decision making to converge to selected focus areas. This is accompanied by the creation of appropriate financial expectations and options so that innovations could be financed.

Developing and Launching New Innovations
We work with clients to develop and launch innovations and pipelines of options around which they build new products, services, and indeed businesses. This requires developing new business models and platforms based on (i) deep customer insight and (ii) understanding of new technologies and offerings. We then help clients launch these new business models and platforms.

Becoming better innovators
We partner with our clients to build the skills and organization to become significantly better innovators. This is accomplished by first building the leadership model and then defining strategies to overcome current organizational barriers. We design systems that link internal and external networks and partners. Finally, we work with the client to embed the right competencies, organization structure, and processes to innovate reliably and repeatedly.