This activity involves developing a research, development and innovation strategy that is appropriate to the company's objectives, capabilities and potential, by prioritising project opportunities.
The steps in the process are:
Where do we want to go?
How can we get there?
How can we implement our ideas? - Operational planning
How is the plan being implemented?
How can we encourage the implementation of the strategy?
This includes, among others:
- Determining the current situation of the company, mapping the competitive environment
- Determining development objectives and comparing them with business objectives
- Reviewing and summarising the resources available for development
- Establishing, analysing and prioritising development concepts
- Identify project opportunities that fit the development concept
- Development of project options at analytical level, quantification
- Prioritisation of project options based on the results of the quantified assessment
This can of course also be useful for a municipality or other budgetary body: developing an innovation strategy for municipal development means mapping the opportunities through a SWOT analysis and then identifying areas where there is potential for progress, improvement and innovation (e.g. smart solutions in public services, smart city/municipality planning, making the municipality more liveable, etc.).