Innovative companies: The road to success

Many innovative companies are already startups today. Efficient structures and the use of modern technology make it possible. Some companies are also at the forefront. Although most of them are rather sluggish, many have large resources at their disposal. But little happens in between. Especially medium-sized companies have a hard time staying up to date, questioning processes and reinventing their business.

Innovative company

Creating structures that enable innovation

Innovation is not a one-time project. Rather, it should be seen as an ongoing process and should play an important role in the company. An organisational structure that is consciously geared to the creation of innovation favours the process and, in the long term, the success of the company.

Arranging the portfolio into three horizons

The 3-horizon model used by McKinsey, among others, divides all products and services into three groups (horizons). This results in an overview of the own portfolio and a strategy can be derived for each item in a horizon.

Horizon 1

All products from the core business, with the largest cash flows and profits.

Horizon 2

Current opportunities that may yield essential profits in the future, but still require development and investment.

Horizon 3

Ideas for smaller projects that promise profits and growth in the future.

The goal is to move the entries from the third horizon to the second and from the second to the first horizon. For the long-term success of the company it is important that all horizons are considered simultaneously and that the portfolio is kept up-to-date and regularly analysed.

Aligning companies to the three horizons

Based on the 3 horizons model, the next step was to adapt the organizational structures and align them to the horizons. An important factor here is filling the position with the right employees. Everyone should work in the environment in which their respective strengths lie. Creative employees with extraordinary ideas are better employed in the second or third horizon. Employees who need fixed structures are better off in the first horizon.
As the Innovation report shows, you should also pay attention to the qualifications of your employees. Innovative companies are increasingly relying on employees from science and IT. In contrast to the rest, vacant positions are filled again and, above all, in good time. The study also shows that many innovators are cooperating with research institutions. This gives these companies access to highly qualified researchers and newly developed technologies.

Innovation process with the Blue Ocean Strategy

Now that all organisational structures are geared to innovation, innovation projects can begin. The Blue Ocean Strategy of W. Chan Kim and Renée Mauborgne can help. It consists of several analysis tools, with whose assistance the benefit for the customer can be increased systematically. The focus is on the products from Horizon One. First, the products are thoroughly analysed in comparison to the competition. Products that hardly differ from the competition are identified.
In the next step, possibilities are sought to increase the benefit and value for the customer. In doing so, the customers should be involved. This is the only way to ensure that characteristics are developed that really create a benefit.

Creating the restructuring with Falcon

We develop the project management software Falcon, which helps you to restructure your company. With Falcon you save a lot of time in project organization and can concentrate on your tasks. Falcon creates clear responsibilities and a simple overview of the overall project, goals and progress.
Start an innovation project now!