Analyzing the Options

what knowledge, experience, and resources can you bring to bear?

Strategic analysis is about gaining strategic advantage through innovation. It means make sure you know where you are in terms of overall strategy. And it means knowing what you can realistically make happen -- what knowledge, experience, and resources can you bring to bear?

If you are an ice-cream salesman, then moving into nuclear power to capitalize on growing energy demand my be a nice idea, but not feasible. But moving into a new range of food products that could be delivered door-to-door would build on your experience and knowledge would be a good bet.

ACTION POINT: Consider innovations that are within the realm of your experience, resources and knowledge.