Application of innovation strategy model in Slovenian companies

Nowadays, when companies are competing in fast changing and very demanding business environment, appropriate strategy and its implementation are becoming more and more crucial for success in the future. Traditional strategy models and approaches are losing its importance in the strategy development world as they are not as effective as they used to be. The long-term growth of the company cannot be based on existing business models anymore.

Therefore, innovative strategy concept is gaining its importance in the modern strategy development. Its main goal is to create new product categories, growth strategies or business models that change the principles of certain market. The mind set of innovative strategy thinking is different from traditional concept as it starts in the future and goes back to the present, meaning that it predicts future needs of customers and identifies, which steps to take in the following years to satisfy or even newly establish those needs. Start-up companies are the best example of such a principle, where companies like Uber and Airbnb are changing the rules of the game.

But not just start-ups, more and more companies from different industries are changing their corporate culture and starting to use innovation strategy principle to plan their future performance. Multinational companies are even creating their own start-up departments and try to find new innovative ideas for products or business models on a daily basis.

Most of the Slovenian companies on the other hand lack of appropriate strategy or strategy at all. Furthermore a lot of them struggle with financial problems and those companies are the ones that most desperately need effective and suitable strategy plan if they want to solve their financial situation, re-establish their business and successfully continue with it in the future. Therefore, techniques of innovation strategy should not be just copied into Slovenian companies, but adopted according to their particularities.

P&S CAPITAL developed its own innovation strategy model for enabling long-term growth of Slovenian companies with the aim of increasing shareholder value.