|
Here's an interesting post in the Consultaglobal blog, in which Jarkko Sairanen, Nokia's former VP of corporate strategy, reflects on the cell phone giant's innovation strategy. The keys, he says, are a systems approach, internal venturing and outside partnerships.
On Nokia's systems approach: "A product or a feature is just one incident - it might help you to increase your market share temporarily, but it does not necessarily create sustainable value. You have to continuously renew, and drive your paradigms from a perspective of sustainable value creation. Thinking in systems is long-term oriented."
On internal venturing: "This unit has dedicated funding, so they can go to market fast and easily test things. And then we build seeds for deeper innovation at the Nokia Research Center... We don’t have a separate process or an incentive structure for innovation - it’s part of the work that people do... we are a networked organization that is connected to innovation... Everyone is extremely interdependent... instead of thinking in terms of silos and separate kingdoms."
On outside partnerships: "Nokia has invested in Nokia Venture Partners to get venture rates of return in addition to real-time market feedback about new technologies and business models. Additional limited partners in the firm include Goldman Sachs, CDBWebTech, and BMC Software, among others."
This combination enables Nokia to move quickly to capitalize on opportunities as they appear - critical in a fast-moving technology-driven market. |
