Organisations face a bewildering array of options to deal with market threats. How to decide on a course of action?
Building an innovation strategy for Foods
PepsiCo’s Foods business knew the importance of breakthrough innovation to meet its high growth aspirations, but it needed to appropriately rebalance its investment between current business drivers and future growth opportunities. It asked Innovia to collaboratively devise an innovation strategy and generate internal alignment around that strategy.
We reviewed PepsiCo’s current commercial priorities through conducting staff interviews and reviewing internal documentation. We explored future growth areas through considering external trends, market insights, and emerging consumer needs. We identified focus areas, mapped likely changes across time, and organized them into strategic pillars to enable growth over three horizons. We facilitated numerous workshops to align around focus areas and identify priorities and synthesized and communicated the resulting information.
We created a strategy that incorporated both plans for the near term and for the breakthrough innovation. Our work resulted in more investment in the breakthrough enablers required to deliver the growth and helped PepsiCo to set aside less fruitful areas of research. Our client, a senior director of R&D said that he was “really impressed with the frame up, the analytics on the trends and the depth behind the focus areas”.