When seeking to develop an innovation strategy, here are some questions you should get answered.How do I see emerging trends before they become problematic?How do I generate a robust pipeline of new growth ideas to consider?How do I identify and focus on the highest-potential opportunities in areas like blockchain and AI?How can I motivate traditional company management to realize the need for digital transformation?How do I evaluate competitive signals in a noisy, buzzword-filled market?How do I get the middle layer of my company to embrace change?How do I bring outside ideas into my organization?When does it make sense to be a fast-follower? And when does it not?How do I decide whether to build, buy or partner?Should I start a venture capital fund?
There is a great decoupling happening in retail, a structural change. Similar to the decoupling that the computing industry went through, going from being vertically integrated to horizontal specialist. What does this mean for retailers? Retailers need to be clear on what their unique selling proposition is, that is why do customers choose them vs their competitor, or substitute; then double down on those things. Is it your wide assortment, price, convenience, customer service, maybe safety now, or some thing less rational. Everything else should be considered for outsourcing to horizontal specialist, those who are optimized to delivery a particular service, or product.