Why Strategy Innovation?
To survive in today’s tidal wave of global economic, technological, and social change, you must understand how powerful forces are aggregating once-distinct product and geographic markets, enhancing market-clearing efficiency, and increasing specialization in the supply chain. You should respond by adopting a new approach to strategy one that combines speed, openness, flexibility, and forward-focused thinking.11 Never is strategy implementation more important than when innovation is at the heart of a strategy. Innovation always involves treading into uncertain waters. And as uncertainty rises, the value of a well-thought-out, but static, enterprise strategy drops. In fact, when pursuing entirely new business models, no amount of research can resolve the critical unknowns. All that strategy can do is give you a good starting point. From there, you must experiment, learn, and adapt.10 The Seven Dimensions of Strategic Innovation The Strategic Innovation framework weaves together seven di
Related Questions
- How I should organize the Research Strategy section to address the Significance, Innovation, and Approach for each Specific Aim, assuming I have more than one?
- Which are the most important KM dimensions (people, management/strategy, processes/technology, innovation, customers, markets/products)?
- What is the contribution of the EIT to the European Unions innovation strategy?
