The Innovation Toolkit holds the guidelines by which we at Impact Valley work. In our newsletters we will introduce you to different tools within this toolkit for you to understand our innovation facilitation process.
We often propose the SWOT matrix during the discovery phase of our 4D methodology. Considering strengths, weaknesses, opportunities and threats is a widely accepted business approach especially at the beginning of the innovation journey.
When the stakeholders are two or more, the SWOT model fosters their collaboration. Keeping in mind the organizations’ specificities, the SWOT analysis is applied to identify the assets that can be leveraged and stumbling blocks that may prevent value delivery. Additionally, external factors such as the market trends that may affect the innovation process are taken into account.
When doing this exercise with another stakeholder, aligning then your respective strengths and weaknesses, will help you to understand how you can benefit from the other and create a win-win collaboration. Business allies through this model identify how one business can support another.