Understanding and Applying Innovation Strategies

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Strategic Planning

Strategy: a way of thinking
a basic pattern of planning for resource deployment
planning for environ. Interaction
planning to achieve org. goals

Key element=short and long-term perspectives

Elements of Strategies

Objectives (outcomes desired)
Activities (process to accomplish objectives)
Resources (what’s needed to accomp. obj.)

Each element influenced and constrained by political, social, economic and environmental variables, and formal authority.

Reengineering

Reengineering focuses on the internal org. system to improve performance.
Common steps:
1. Map current process
2. ID steps that add value
3. Eliminate steps w/o added value
4. Use triage mentality
5. Reengineer before bringing in technology