The Innovation Ambition Matrix is a strategic tool that helps companies identify and plot their innovation strategies. It categorizes innovations into three zones based on the novelty of the innovation and its impact on the company's existing business model. The three zones are core, adjacent, and transformational innovations. Core innovations optimize existing products for existing customers. Adjacent innovations expand existing business into new areas of growth. Transformational innovations are breakthroughs and inventions for markets that do not exist yet. By plotting their innovations in this matrix, companies can balance their portfolio between short-term, medium-term, and long-term initiatives, and allocate resources accordingly.
Without adequate innovation, you risk falling behind in even what you do well. So how can an organiz...
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