Core/Edge Innovation Framework

The Core/Edge Innovation Framework aims to resolve conflicting priorities between exploiting existing business models and exploring new opportunities, which is a core strategic challenge. It helps organizations navigate the tension between maintaining current success and pursuing future growth by providing a balance between these activities.

The Core/Edge Innovation Framework is designed to manage and foster innovation within companies by distinguishing between 'core' (current business operations and technologies) and 'edge' (emerging opportunities and technologies). This framework is used to systematically explore new ideas while maintaining the stability of the core business. It helps in allocating resources effectively, managing risks associated with innovation, and ensuring continuous growth.

Score your

Measure my

Strategic

Friction

Steps / Detailed Description

Identify and define the core elements of the business that are critical for current success.
Identify potential edge opportunities that could evolve into future revenue streams.
Allocate resources strategically between core and edge initiatives, ensuring stability and innovation.
Implement mechanisms to transfer successful edge initiatives into the core business practices.
Continuously monitor and adjust the balance between core and edge to respond to market changes and internal growth.

Best Practices

Regularly review and adjust the resource allocation between core and edge
Foster a culture that supports experimentation and tolerates failure at the edge
Ensure clear communication and alignment between core and edge teams