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What is your innovation horizon?


What is your innovation horizon?

What is your innovation horizon?

The term “innovation” is usually understood to mean “qualitatively novel products or processes” that “differ ‘noticeably’ from a comparative state.” In this context, it is important to find, create or promote those forms and formats that fit the innovation goals of an organization or a company. The so-called 3 horizons model can serve as an instrument for this. Horizon 1 describes incremental innovations, which aim to improve or further develop what already exists. Horizon 3 comprises disruptive innovations, i.e., the fundamental change of the existing or the development of something completely new. In between lies horizon 2, which refers to innovations that extend the existing into new products, markets or methods. Depending on which innovation goal is being pursued, different innovation environments are required: The incremental innovations of horizon 1 mostly take place within the innovating organization. Innovations in horizons 2 and 3, on the other hand, benefit from cooperation or co-creation procedures with outsourcing of innovation work to institutions outside the organization, which nevertheless remain connected to it.

Read the full article here: https://medium.com/@karen_25554/co-creating-ecosystems-for-innovation-do-you-apply-an-idiosyncratic-or-allocentric-business-model-9a18f9dbce16

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