Accelerating growth with strategic innovation: Putting market driving into context

Strategic innovations emerge from an iterative learning process that starts with an expansive, market-oriented search for attractive growth opportunities. This approach is facilitated by reimagining and stretching every dimension of the customer value proposition and business model that together comprise the strategy of a firm. This market-oriented approach subsumes the distinctions between market-driven and market-driving. Both approaches require deep insights into the latent needs and unresolved problems of present and prospective customers, and informed anticipation of competitive actions and reactions.

Automated summary

Strategic innovations arise from an iterative learning process that begins with a comprehensive, market-oriented search for attractive growth opportunities. This approach involves reimagining and expanding all aspects of the customer value proposition and business model, which together form a firm's strategy. This market-oriented approach encompasses both market-driven and market-driving distinctions. Both approaches necessitate deep understanding of latent needs and unresolved issues of existing and potential customers, as well as well-informed anticipation of competitive actions and reactions.