Strategic planning assignment essay help online: Strategic innovation 

Strategic Innovation is well suited for the dynamic market which actually helps in delivering the right product and services to the customers. In order to make the most of this high level of commitment to the consumers is very important besides just enhancing the internal capabilities of the company. The better the businesses are aware of the things their customers need, the better it is to get the best out of strategic innovation.

The process of strategic Innovation involves the following:

• Visualizing the ideas
• Generating Ideas
• Evaluating Ideas
• Implementing Ideas

Leveraging on innovation through a good plan

The fact that both planning and innovation go hand in hand it is vital for the organization to leverage on the innovative ideas which can only be done through a good plan. As it’s already seen innovative ideas when assisted by a good plan could help in leveraging and getting the best result. In order to leverage on that and get the maximum benefits for the business a few questions need to be answered in the initial stages (onlinelibrary 2012). These are as follows:

• What is the sector the business is in?
• Who are its customers and the target market?
• What are the products and services that need to be offered?
• How can you do this?

Good planning holds the key to innovation

Now having discussed what planning process is and what are the ways companies plan for achievement of their goals along with the aspect of innovation playing the part of the catalyst it’s time to detail about the connection they have. Although people might start thinking that strategic innovation is at the new thing which has replaced the age old planning processes, it should be understood that both of them are different and co-exist with each other. (union-imdp 2012) Companies today are deploying the method of strategic innovation for identifying the business opportunities that lie in their path. After the entire process is done they transfer the collected results for analytical processing. This facilitates the action plan by ensuring that the plan would be as per the resources the company has and the values it holds (innovationzen n.d.).

The moment the word innovation comes up it is the end result which people are so keen to stress upon rather than the process which might lead to it. However it must be said that the end results can only be achieved by the innovative ideas when the planning process has been conducted to prepare a well detailed plan. Hence it could be said that strategic planning is a big analytical process whereby the strategic innovation stands for a bigger creative process. There were numerous inventors which came and went by, some made a big name for themselves and some just came out of the blue and got immersed in the onetime popularity they achieved. The only thing which made the difference was a well-defined strategic planning process even though all of them came with innovative ideas. So quite rightly it can be said that if there is an innovative idea but is not backed by the right planning process to achieve that, it is more than possible that it would not achieve the heights it may deserve.

Conversely, if there are big plans with big targets but only to offer something which is already existent in the market then the possibility of that plan to mature may be difficult if not impossible. Therefore for a plan to mature it needs to be developed on an innovative idea that values and fills the gap of the demand that has been generated by the users. For example the internet age has been a boon for a decade now. It had a scope of enhancing the process of communication and simplifying the way where people could connect to each other (innovationzen n.d.).

Seeking the demand a platform where users could communicate with each other, Mark Zuckerberg came up with the innovative idea of Facebook. Although the time when it did come into existence there were several other platforms, which meant there was the innovative idea already as per the demand generated. However, the success story of Facebook clearly explains that being an idea which was well shaping up, there was hardly any other group that could plan it in the correct manner. Facebook developer coupled the strategic innovation they had with a strategic plan that made it reach the top spot in the social networking sites. The only thing which they did right was carrying out a detailed strategic innovation and making use of the analytics to deliver exactly with the thing people were looking for through a good plan.

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