Investment decision-making with strategic partners worldwide
The investment decision during developing innovations is related to specific market possibilities which the cooperating parties identify, and their wish to translate those market possibilities rapidly to a profitable product. Those cooperating parties distinguish themselves as a strategic value chain of specialized companies with a large innovation capacity.
A large innovation capacity means the capacity of the value chain to react rapidly to the demand of a global group customers by means of developing innovative products which satisfies subjected demands. Acceleration of the investment decision in strategic industrial chains asks for new manners of cooperation between well considered chosen industrial partners and institutions. Subjected new manners of cooperation is the field of expertise of TIGNL.
The results of the services of TIGNL are transparent project plans to translate new business ideas to profitable products and/or services included the budget and finance plans. In the pre-project stages of innovation projects TIGNL takes care of developing project plans based on business cases and formatting dedicated consortia of high tech enterprises and knowledge institutes who are able to contribute to the project goals. During the executing of innovation projects TIGNL takes care of the project management and coaches the project consortium members.
TIGNL main focus is the development Vision, Mission, Strategy, Governance, Innovation Management and Business plans in close cooperation with her partners.
Business vision
A business vision is a clear and compelling picture of an organization’s future, defining its long-term goals and aspirations. It serves as a guiding framework for decision-making, strategy, and innovation, helping the organization align its actions with its desired future state.
Every organization exists for a purpose, whether it’s producing millions of high-tech products or saving children in developing countries. Being clear about that purpose, in a way that inspires and motivates the people within the organization, requires articulating and sharing the vision. The vision explains why the organization exists and typically remains constant for many years.
Mission
The Mission is measurable. It describes what the organization as a whole will achieve and the overall time-scale for achieving it. The Mission does not deal with how the end is to be achieved nor who will be the key players in it’s delivery. Having clarified the Vision, the next step is to decide what it means in terms of the big steps that must be taken.
Strategy
The strategy, or strategic plan as it is sometimes called, is still a fairly high level look at the key milestones which need to be achieved if the mission is to be accomplished. The Strategy explains how the organization as a whole will do it. The strategy sets out:
– The major steps that are planned
– How each will be achieved
– Key responsibilities
– Time-scales and
– Agreed measures of success.
Governance
Governance refers to the system of rules, processes, and practices through which an organization is directed and controlled. It encompasses the structures and mechanisms responsible for decision-making, goal-setting, and ensuring accountability and transparency.
In broader contexts, governance can refer to:
Corporate Governance: The way a company is directed and controlled, including the roles of the Board of Directors, shareholders, and other stakeholders.
Public Governance: The structures and processes by which government agencies and public institutions are managed and held accountable to the public.
IT Governance: The management and control of information technology systems to ensure they effectively and efficiently support the organization’s objectives.
Governance focuses on ensuring accountability, ethical behavior, and compliance with laws and regulations. Its goal is to balance the interests of various stakeholders and to effectively guide and oversee the organization.
Innovation management
Innovation management is the discipline of managing processes in innovation. It can be used to develop both product and organizational innovation. Without proper processes, it is not possible for R&D to be efficient; innovation management includes a set of tools that allow managers and engineers to cooperate with a common understanding of goals and processes. The focus of innovation management is to allow the organization to respond to an external or internal opportunity, and use its creative efforts to introduce new ideas, processes or products.[1] Importantly, innovation management is not relegated to R&D; it involves workers at every level in contributing creatively to a company’s development, manufacturing, and marketing. By utilizing appropriate innovation management tools, management can trigger and deploy the creative juices of the whole work force towards the continuous development of a company. The process can be viewed as an evolutionary integration of organization, technology and market by iterating series of activities: search, select, implement and capture.
Innovation processes can either be pushed or pulled through development. A pushed process is based on existing or newly invented technology, that the organization has access to, and tries to find profitable applications to use this technology. A pulled process tries to find areas where customers needs are not met, and then focus development efforts to find solutions to those needs. To succeed with either method, an understanding of both the market and the technical problems are needed. By creating multi-functional development teams, containing both engineers and marketers, both dimensions can be solved The lifetime (or product lifecycle) of new products is steadily getting shorter; increased competition therefore forces companies reduce the time to market. Innovation managers must therefore decrease development time, without sacrificing quality or meeting the needs of the market.
Business plans
A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.