Strategic Innovation Plan Generator
The Strategic Innovation Plan Generator (part of the Innovate Vancouver Strategic Innovation Plan Learning Management System) supports virtual team joint learning, collaboration, and strategic planning efforts without needing to hire a consultant.
Creating a Business Culture that Supports Innovation
The key to a sustainable competitive advantage is insuring that your business’ product and service offerings are relevant and solve a legitimate customer need. The infographic below represents the different components of the business model ecosystem.
Stronger components are those that not only represent industry standards and best practices but also lead the way to define and establish new standards and practices. Weaker components are those that not only lag behind industry standards and best practices but may even fail to realize the gap exists.
The Strategic Innovation Plan Generator includes the five stages below. Beginning with a review of the process map for using the Strategic Innovation Plan generator followed by phases that help evaluate your business model (in specific areas), identification of tools and frameworks to help introduce improvements (where needed), and an opportunity to actually draft your plan (and download) for the designated business area(s).
Once all of these Business Ecosystem components have been incorporated in to your business model they can be ranked based on their strength and weaknesses. (For an overview of this tool see the explainer video at the top of this page)
Mechanisms supporting innovation is not isolated to funding. It also involves public policy, legislation, regulatory frameworks, resources, training, values, culture, and other reinforcing mechanisms. Insisting on one vs. another mechanism without a proper understanding of history of innovation, values, and the marketplace is more akin to proposing a ‘one-size-fits-all’ model for innovation than seeking to understand how it can be accomplished. Evaluating the business model thus depends on industry changes, risks, and a number of other overlapping factors.
Overview of the Strategic Plan Generator
The Strategic Innovation Plan & Learning Management Framework is a ideation and collaboration system based on a network of proprietary publications, mobile phone app (android), and interactive web based tools. This technology supports team collaboration across virtual and physical environments.
The Strategic Innovation Plan Generator includes the above steps (and strategic planning components) listed below. Additional tools, resources, and options are available to members.
Review each of the sections together. Explore the questions proposed. Then move on to the following sections, and the interactive tools available in the Strategic Plan Generator, to bring your company’s leadership and strategy to the next level!
Step 1: Evaluate Your Business Model Components
Beginning with this specific business model area start to review what components are needed to be successful. Think of your business’ competitors in the area (local, national, or international). How does your Business Model compare to competitors for customer satisfaction, employee retention, industry leadership, flexibility, and ability to support Innovation?
Step 2: Review and Decide What Business Model Tools to Explore
Deciding which tool will help to strengthen your business model (in a specific area) depends on the strengths & weaknesses of the business. You may find that some tools are more useful than others for strengthening your business model. Begin by exploring the individual tools available to discover what you can do to strengthen your Business Model components.
Step 3: Strengthen and Build Your Key Business Model Areas
This is where collaboration, teamwork, and your leadership come in. Begin to fill out the interactive on page Business Model tool. Identify business strengths and areas for improvement in each business area. Print out & save a copy for your records. Use these to facilitate leadership discussions when drafting your business plan & strategies (next step). Go back to other areas once your done.
Step 4: Plan – Leverage Your Business Model to Support Business Innovation
This is the final stage where you will apply what you learned in previous steps. Leverage your new Business Model components to support your strategic plan! Identify business strengths and areas for improvement in each business area. Print out & save a copy for your records. Begin to fill out the interactive on page business planning tool. Go back to previous steps if you discovered other business model tools or areas that need improvement.
Section One: Business Overview
The business overview section is intended to give the reader, coworkers, potential investor, or future business partner a glimpse into the purposes, structure, and mission of your company. This information helps the reader of the strategic plan to better understand the context and industry of the following sections.\
Section Two: Sales & Marketing Plan
The sales and marketing plan establishes who your customers are, how they will be reached, and the value proposition of your product/ service offerings. Without these channels, and a thorough understanding of what problem is being solved by your company’s product/ service, there is very little chance that your business will be able to thrive.
Section Three: Human Resources Plan
Human resource assets drive value throughout the business model. Without effective human resource assets the performance in other areas would deteriorate and undermine the business. These areas include technical operations, financial, distribution & logistics, marketing & sales, services, and research & development.
Establishing a human resource plan supports the business’ recruitment efforts, training goals, supports the strategic vision, and provides opportunities for business model alignment, strengthening, and innovation.
Section Four:: Action Plan
The action plan incorporates the information from earlier sections to establish what goals are in place, what strategies will be used to deliver these goals, and support performance evaluation. How goals are evaluated varies depending on the business and its priorities
Section Five: Executive Summary
The executive summary section provides a high level overview of the business environment, builds upon the business overview section (mission, values, and business structure) and describes the product/ service offerings, customer categories, and a high level review of the business’ goals detailed in the previous section. Your team may choose to leave the summary (here) at the end of the planning document or attach it to the business overview section at the beginning of the plan.
Section Six: Financials Plan
The financials plan establishes how financial and physical assets are allocated and used. The story that these numbers help provide highlights the mission, values, and direction of the business over the coming term. Although the numbers can seem intimidating to many using them to drive value across the business environment is as simple as understanding the story they tell.
Purchase Options
A System’s Thinking Approach to Leadership Innovation (2nd ed) is now available in the Amazon store.
Click on the embedded book above to take a peak at the book and purchase your own copy!
Or check out the SPG Android App now available in the Google Play Store. Click on the STORE dropdown menu at the top of this page. This will take you to the online Google Store to purchase your own copy!