Why LINEV Group
We have set ourselves the task of achieving the ambitious Strategic Goal of the LINEV GROUP, supported by the commitment to take the business on a new, rapid growth trajectory.
Several interrelated processes help to achieve this goal.
| FIRSTLY, it is the redistribution of LINEV GROUP resources towards future prospects, that is, we are betting on the implementation of disruptive innovative projects, supported by sufficient financial resources and people who provide high profits. At the same time, we draw conclusions by analyzing outdated solutions and business models. | SECONDLY, it is flexible business processes in everything, namely, in marketing, development, production, management, which gives us the opportunity to quickly move forward and take a leading position in the market. | THIRDLY, it is a disruptive “tunnel-type” business process of overcoming potential barriers that arise in the innovation cycle. |
Reference
In physics, the quantum tunneling is the overcoming of a potential barrier by a microparticle when its total energy (which remains unchanged during tunneling) is less than the height of the barrier. The barrier prevents the particle from moving, but it is not an impermeable boundary.
LINEV GROUP innovation strategy
The portfolio of innovative projects is the core of the innovation ecosystem and is focused on solving customer problems that exceed their expectations and are one step ahead of competitors. At the same time, the economy of the value chain is fundamentally changing, creating conditions for the exponential growth of companies.
The portfolio of innovative projects of LINEV Group is balanced and focused on four horizons of innovation, namely incremental innovation (30%), sustaining innovation (30%), disruptive innovation (30%) and radical (breakthrough) innovation (10%). Any innovative project launched by a company should be aimed at solving potential challenges and problems of users. We should not think about what new features or benefits we can offer to the client, but should understand what task the client is trying to accomplish with our innovation, and then develop something that can help him to accomplish this task.
Incremental innovation
Incremental innovation is the process of continuous improvements, insignificant at first glance, to existing products, services, processes, and even to the organization itself. The effect of dozens or even hundreds of gradual changes becomes huge, even synergistic, and makes it possible not to lose any existing competitive advantage. The main thing is continuity, cyclicity, search for the best solutions, speed, flexibility and, most importantly, user orientation, the desire to exceed his expectations. Each organizational structure of our innovation ecosystem clearly identifies and takes full personal responsibility for its incremental innovations.
Sustaining innovation
Sustaining innovation is defined as a way of making technological changes to the modules of a product. New product modules can not only lead to a change in the product architecture, but can also serve as the basis for creating technologically radical new next-generation products. Sustaining innovation is seen as a phenomenon of innovation management, and in fact it is a new practice in product design and development.
Disruptive innovation
Disruptive innovation is a new approach to old products and services, the value of which is not obvious and not immediately clear. This is a new version of a product or service that suits many users and meets their unmet needs. Success depends on speed, flexibility, and the right choice of the first potential user to test a product or service. While the risks are great, disruptive innovation has tremendous growth potential (scalability) if done correctly. Such projects should be implemented by a startup team.
Radical (breakthrough) innovations
Radical (breakthrough) innovations are innovations based on research and development, which should provide breakthrough directions of development to new market segments. The main task of innovation based on research and development (R&D) is to build a comprehensive R&D strategy and innovation for up to 3 years based on the company’s vision and business goals. An effective innovation roadmap based on R&D should be developed, which will include high-level goals, planned investments, and key evaluation parameters.
Project portfolio management is the selection, prioritization and control of projects in accordance with the strategic goals of the group of companies and the opportunities for their implementation. The goal is to balance innovative projects and optimize resource use, risk, and return on investment. In addition, a mechanism should be developed to continuously generate and evaluate critical ideas, regardless of where they arise or where they are currently used.