A Simple Tool You Need to Manage Innovation

Harvard Business Review

One tool we've developed to help companies manage their innovation portfolio is the Innovation Ambition Matrix (see the chart below). Igor Ansoff to help companies allocate funds among growth initiatives. Ansoff's matrix clarified the notion that tactics should differ according to whether a firm was launching a new product, entering a new market, or both. Our version replaces Ansoff's binary choices of product and market (old versus new) with a range of values.