The last decade has shown that digital transformation and innovation can exceed the rate of change of most companies, with start-ups gaining a foothold in traditional industries. Established companies have had to adapt to this disruption and consider their products’ social and environmental impacts, making efforts reactionary and non-strategic. Overall, companies believe that innovation in an organisation is down to talent and serendipity, which leads more often than not to new products that do not contribute to an organisation’s health and balance sheet. In the next decade, companies’ focus will shift to strategic innovation to deal with the ever-changing environment’s complexity.
Sphere’s practice in strategic innovation is based on a deep understanding of the value propositions and objectives of a company’s business. Sphere analyses the market position and the company’s expertise in its core and related technologies and formulates a playbook for the company’s leadership to meet its strategic objectives in terms of revenue growth and operating margins.
By creating a strategy that is not only a strategic fit for the organisation but also meets the financial model requirements, Sphere can empower growth and innovation in companies.