Planum's innovation consulting experts help clients build innovation engines that can thrive now and into the future.
Innovation is difficult. Only about 30% of companies consider themselves good at it. And it's becoming increasingly challenging. Even the strongest innovators must constantly acquire new skills and develop faster and more agile R&D processes.
Avoiding innovation pitfalls requires a strategy-driven, action-oriented, and agile approach. These characteristics are true whether we are talking about innovation in the consumer product or business-to-business space, or at the product, service, or business model level. And they are at the heart of the innovation consulting approach at Planum. Planum's Innovation Journey is a holistic approach, collaborating closely with clients to strengthen their innovation systems and enable innovation.
This approach has four key elements:
We start by looking both outside and inside to define the innovation strategy that best supports your overall business strategy. Externally, we understand the key trends shaping our customer's economy and demand and prioritize the most attractive areas for innovation investment. Internally, we understand the strengths and weaknesses of the customer's innovation system. This strategy can help your innovation system gain momentum by identifying key areas for investment.
A good innovation strategy is necessary, but not sufficient. Creating value in a world of short product and business model lifecycles requires decisive action and speed. We collaborate with our clients in a sprint-based approach to develop and bring to market a strategy-compliant minimum viable product. Offers are further developed with this “test and learn” approach. Unsuccessful ones are discarded to free up resources for other projects.
Maximizing the return on investment in innovation requires the ability to find market-fit products and rapidly scale the most promising projects. We work closely with our clients to help move new products, services, or business models from experimentation to execution.
Successful innovation increasingly requires the ability to continually build innovation muscle or bring in new skills and capabilities from the outside. We help businesses identify the critical skills they need and define the best path to achieving them. It does so through startups, partnerships, acquisitions, in-house development, and more.
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