The entrepreneur’s go-to-market innovation strategy: towards a decision-analytic framework and a road mapping process to create radically successful businesses driving spectacular growth and profitability

Abstract

It is well known that 90 percent of all new ventures fail partly because they often lack vital resources, must compete against established companies but have little or no business acumen with which to compete and drive spectacular growth and profitability. Thus, just one-out-of-ten start-ups grow into successful, sustained enterprises. Although the academic literature attributes such sustained growth to innovative approaches for inducing transformative change, very few studies have attempted to address the five main components of strategic innovation management (strategic planning, business model innovation, marketing management, product innovation, and financial planning) within a single research framework. Building on insights from a systematic review of strategy and innovation management literature, this paper seeks to fill this important gap in the literature by introducing a decision-analytic framework for road mapping a go-to-market innovation strategy, comprising of well tightly integrated elements of strategy, business model innovation, marketing management, product innovation, and financial planning that mutually support each other as a system. The framework and its corresponding road mapping process create powerful alignment mechanisms to systematically map and analyse the underlying processes driving business performance and develop game-changing business plans to reshape industries, transform value chains, and drive spectacular growth and profitability.