Build an Innovation Engine in 90 Days Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Introduction

The article “Build an Innovation Engine in 90 Days” basically discusses the concept where each and every organization looks to innovate in some way or the other. All organizations integrate successful transition of innovation in the firms with different methods of innovation. Along with this, it is a fact that most executives believe that their respective companies do not innovate in a reliable and an orderly manner.

In fact, too many companies introduce breakthrough innovation by individual heroism and serendipity. It is also facts that great ideas generally remain locked inside the head of the employees and the concept that are developed often are not the best ones or the most promising ones. Moreover, it is necessary to make innovation more aligned and systematic, without making large investments, hiring new team or restructuring.

The article basically discusses the viewpoint of three consultants who have explained the ways which can help in building a “minimum viable” innovation function in three months time. Day 01-30 defines the innovation bucket, which explains how much growth innovation can help and how much will it require for the new growth opportunities.

Day 20-50: Zero in on some strategic opportunities by discussing with the customers to identify the growth needs that match with company capabilities. Day 20-70: dedicate a small team to begin the development innovations. Day 45-90: Set up a committee that shall overlook the project, borrow venture capital best practices also.

In the end, the article basically discusses how to actually use this approach which can help build the system which will ensure that all good ideas are rather encouraged, shared, identified, prioritized, resourced and also developed.

Literature Review and Analysis

Literature

The three authors Scott, Siren and Duncan have introduced a model of building innovation engine. The four steps that have been discussed in the paper are as follows:

Day 1 to 30: Define Your Innovation Buckets

Day 20 to 50: Zero In on a Few Strategic Opportunity Areas

Day 20 to 70: Form a Small, Dedicated Team to Develop the Innovations

Day 45 to 90: Create a Mechanism to Shepherd Projects

Day 1 to 30: Define Your Innovation Buckets

It is the time where every firm actually wants to become an innovation oriented firm. All firms have the goal of becoming innovative. However, the one major thing which firms actually do not realize and in fact they do not analyze is the fact that they need to create a balance between the growth objectives of the firm in its current operations and the core innovations it shall look to generate in the future. Basically, it is the purpose of the new growth innovations to fill up this gap. Firms have to close the gap between the existing operations and future prospects of innovation to integrate the concept of innovation within the firm.

Day 20 to 50: Zero In on a Few Strategic Opportunity Areas

This step of the building an innovation engine suggest that there are various ways and types of innovations to achieve the long and short term goals. The MVIS also does the same, but it does in a very simple manner. The MVIS basically makes the use of efficient resources by focusing on the efforts which shall bring in a number of strategic opportunities. These are the areas that reduce the gap between innovations with the effectiveness it overcomes with limited resources.

Moreover, the organization in this step looks to produce and focus on those areas which are based on the customer demand. Under this step three strategic opportunities are also explored which suggest that the USP of the company should be used in an effective manner so that competitors cannot copy it. In addition, the use of technology makes the process easier and convenient. Finally, the potential customers need to target in the decision making.Build an Innovation Engine in 90 Days Case Solution

Day 20 to 70: Form a Small, Dedicated Team to Develop the Innovations

The third step in the model explains the fact that it is necessary to formulate a small but an effective team that shall work to develop innovation within the firm. It is necessary for the firms to successfully blend in a group of individuals who are made to work on the innovation aspect of the business. They need to focus on innovation, building new ideas and working along the lines of brining in new methods for business.....................

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