» Some larger firms offer innovation consulting as a part of management consulting.
» Some boutique firms choose innovation consulting as their sole focus, offering expertise in this very niche but necessary area.
» Still other innovation consultants concentrate on technology and product design, making sure offerings are presented in innovative ways.
» Oftentimes, R&D and L&D departments in an organization are blocked from truly innovating because of the organization’s processes. Silos and bureaucracy will prevent good ideas from being heard and acted upon. Innovation consultants can help organizations create processes that make it easy for new ideas to be heard and adopted and channels for better communication and collaboration around those ideas.
» Innovation relies heavily on creative thinkers, and so hiring the right people is critical to creating an innovative organization. Innovation consultants can identify the type of talent needed and facilitate the hiring process to cultivate the right kind of talent pool.
Identify New Markets
» In order to stay even with competition, organizations struggling with innovation frequently attempt to imitate their competitors, going after the same target markets that their competitors do. Innovation consultants can help organizations identify new markets that are being underserved, targeting those instead to create an innovative product for a new customer base.
» Businesses that start out as innovative ventures often scale to the extent that they lose their innovative edge. As they expand and focus on many offerings at once, they often reach the point where they must pour their resources into keeping the current business alive, rather than into creating innovative new offerings. Innovation consultants can help businesses construct a business plan and strategy that realigns goals around innovation.