September 5, 2003
A carefully thought-out, by-the-numbers strategic plan may be a good way to see your company through the tough times. Yet creativity and innovation are what truly set great organizations apart from the others. Strategic planning and innovation. Two concepts that have always been viewed as separate… until now.
In The Power of Strategy Innovation, authors Robert E. Johnston, Jr., and J. Douglas Bate combine their 32 years of experience consulting to major organizations to show you how to connect analytical, numbers-oriented, day-to-day planning with the market-centric, discovery-driven innovation that focuses on the future. Their unique five-step Discovery Process allows you to uncover visionary new business opportunities by applying innovative thinking to your company’s entire business model, not just to its products or inventions.
Outlining all five phases of the Discovery Process, from the establishment of a Discovery team, to the exploration of new insights and the creation of a new strategic road map, the book shows how the authors have developed dozens of highly successful companies using this unique methodology.
Included is an in-depth case study of the Moen Corporation, a well-known plumbing fixture company whose brand had fallen into second place in the early 1990s. Moen, by adapting the techniques of strategy innovation, discovered that consumers had come to view sinks and shower faucets not just as necessary items, but as home fashion accessories. With this new perspective, Moen changed its entire business model, from product design to marketing strategies, moving from a company that was “technology-driven” to one that was “consumer-driven” and known for innovative, exciting new products like the PureTouch Filtering Faucet System. By the end of 2002, Moen had tripled in size and increased its market share by 72%. Using this case study, as well as executive interviews and further examples from companies such as IBM, Procter & Gamble, and Kodak, The Power of Strategy Innovation shows how you can:
- Create a portfolio of new business opportunities
- Remain flexible and orient your company for the future
- Change the rules of how customers receive value
- Develop a business model that delivers that value better than anyone else
This breakthrough book will help you make strategy innovation and ongoing part of your business – and use it to achieve dramatic, successful growth.
Robert E. Johnston, Jr., has worked with major global corporations including Procter & Gamble, 3M, BMW, Eli Lilly, and Nokia, helping them to identify and pursue emerging opportunities, and to elevate their existing practices for company-wide innovation. He lives in Sharon, Massachusetts.
J. Douglas Bate was previously an associate with Ideascope Associates, where he led corporate teams from companies including IBM, Kodak, and Hewlett-Packard in the creation of significant new business opportunities through the process of strategy innovation. He lives in North Andover, Massachusetts.
Johnston and Bate are cofounders of The Visterra Group, a Boston-based company dedicated to advancing the practice of corporate strategic planning through strategy innovation.