Alignment of a functional innovation strategy

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dc.contributor.authorKatz, B. R.en_ZA
dc.contributor.authorDu Preez, N. D.en_ZA
dc.contributor.authorSchutte, Corne S.L.en_ZA
dc.date.accessioned2012-08-10T19:54:04Z
dc.date.available2012-08-10T19:54:04Z
dc.date.issued2011-09
dc.descriptionThe original publication is available at http://www.isem.org.za/index.php/isem/isem2011.en_ZA
dc.descriptionConference of the ISEM 2011 Proceedings, Stellenbosch, South Africa, 21 - 23 September 2011.en_ZA
dc.descriptionConference theme - Innovative Systems Thinking: Unravelling Complexity for Successful Solutions.en_ZA
dc.description.abstractFor a strategy to be successful it first needs to be the correct strategy then it needs to be aligned with the business values, structures, capabilities and other strategies and finally it needs to be executed [1]. This paper focuses, specifically, on the alignment of a company’s functional innovation strategy. The connection between the different levels of innovation strategy and other business strategies are developed and explained. A range of different business strategy classifications are presented from the literature and a golden thread of alignment is sewn from a company’s grand, strategic perspective down to its functional strategies. A theoretical framework is presented, which contains the strength of the relationships between different generic strategic perspectives and the components of a functional innovation strategy. The end result of this paper is a suggested decision framework which a company can use to align its functional innovation strategy with its strategic perspective, which in turn should be aligned with the company’s mission and vision. This will enable the company to assign the correct resources to its innovation activities so that innovation enables it to achieve its overall objectives. The decision framework is tested in theory by focusing on the insurance industry and understanding the interaction between the strategic perspectives of a company and that company’s focus on innovation. Evidence is gathered to support assumptions about the company’s innovation focus.en
dc.description.sponsorshipThe Industrial, Systems and Engineering Management (ISEM) conference is a joint initiative between the Southern African Institute for Industrial Engineering (SAIIE), INCOSE (South Africa) and the Graduate School for Technology Management at the University of Pretoriaen_ZA
dc.description.versionPublishers' Versionen_ZA
dc.identifier.citationKatz, B. R., Du Preez, N. D. & Schutte, C. S. L. 2011. Alignment of a functional innovation strategy. Presented at the ISEM 2011 Proceedings, September 21-23, Stellenbosch University, Stellenbosch, South Africa.en_ZA
dc.identifier.urihttp://hdl.handle.net/10019.1/42883
dc.language.isoen_ZAen_ZA
dc.publisherStellenbosch : Stellenbosch University, Department of Industrial Engineeringen_ZA
dc.rights.holderAuthors retain copyrighten_ZA
dc.subjectInnovationen
dc.subjectBusiness structuresen
dc.subjectBusiness strategyen
dc.titleAlignment of a functional innovation strategyen_ZA
dc.typeConference Paperen_ZA
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