Meaning ● A Strategic Innovation Portfolio, in the context of SMBs, represents a collection of coordinated innovation initiatives strategically selected and managed to drive growth, improve operational efficiency through automation, and ensure successful implementation across the organization. ● It involves deliberately balancing various types of innovation projects, from incremental improvements to disruptive ventures, aligning them with the SMB’s overall business strategy and resource constraints, which allows SMBs to pursue diverse avenues for advancement simultaneously while mitigating risks. ● Considering this balance, SMBs can systematically invest in innovations that enhance their current offerings and also explore transformative opportunities for future success, requiring a meticulous assessment of potential projects based on their strategic fit, projected impact, and feasibility.
