Four Principles for Realizing Strategy with Innovation
Name
2021_0901_FourPrinciples_FonstadSalonen.pdf
Size
509.64 KB
Format
Adobe PDF
Checksum (MD5)
74389880e8de00bfe22b93ef9b183f8e
Author(s)
Fonstad, Nils O.
Salonen, Jukka
Date Issued
September 16, 2021
Publisher
Cambridge, Mass.: Center for Information Systems Research, Sloan School of Management, Massachusetts Institute of Technology
Citation
Fonstad, Nils O. and Jukka Salonen. “Four Principles for Realizing Strategy with Innovation.” MIT CISR Research Briefing Volume XXI, no. 9 (September 2021). https://dspace.mit.edu/handle/1721.1/175002.
Series/Report no.
MIT CISR Research Briefing, Vol. XXI, No. 9
Abstract
To realize organizational strategy better and faster, companies want the resources they have people and funding to go to those initiatives that are most likely to have the greatest strategic impact. Yet companies struggle to prioritize the initiatives in their portfolio, in large part because of what they don t know about the initiatives. This briefing describes four principles MIT CISR believes all companies should follow to realize their strategy with innovation initiatives. We illustrate these principles using the experiences of BBVA, where executives created a single evidence-based investment process for the entire bank that evaluates and prioritizes more than two thousand initiatives every quarter. The process has enabled BBVA to significantly improve its capacity to learn from initiatives and to allocate talent to the most strategically promising ones.
Subjects
Assessing Performance and Value
IT investment and portfolio management
Decision rights/governance
Designed for Digital
Innovation and Strategy
Innovation Portfolios
Organizational Structure and Agility
Terms of Use
CC BY-NC 4.0 (Attribution-NonCommercial 4.0 International)
Persistent DSpace Link
