Tianyang Deng
School of Chemical Engineering, University of Queensland, AU, 4072, Australia
The success of an organization’s innovation strategy relies on a clearly defined innovation theme. In this article, the author will delve into the concept of disruptive innovation and explore how to achieve Horizon 2 ideas. Horizon 2 ideas involve extending the business’s current model and core competencies to reach new customers, markets, and even new business objectives in different segments. The business model extension under Horizon 2 focuses on the organization’s mid-term goals, typically taking 24 to 36 months to yield results. Drawing insights from the Harvard Business Review’s Back Bay Battery (BBB) simulation, this article presents the implementation of an innovation strategy within the BBB company. The aim is to assist the company in enhancing its business model and transitioning into the high-end market. The latter part of the article will shed light on the challenges associated with implementing this strategy in a real-world firm and the results it can deliver to the organization. Specifically, it will explore the effectiveness of the strategy in achieving disruptive innovation within the employee market, where the company intends to use the new business model to tap into new markets.
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