Developing an innovation strategy - Introduction

4 important questions on Developing an innovation strategy - Introduction

What are the four steps in developing an innovation strategy?

  1. To identify where innovation is most needed
  2. To determine which dimensions of innovation is needed to address the issue
  3. To understand the degree of change required
  4. Managers must work out how best to defend the innovation from competition

Where does for most organizations the main strategic impetus come from?

The needs of customers and the demands of investors for growth and profitability.

What is meant with strategic intent within the logic of  strategic analysis?

The ambitions of the leaders of the company. These often play a vital role.
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Why is the analysis of long-term trends particularly important part of developing an innovation strategy?

Because they may not be easy to spot and, if detected, are too often ignored. Many of the most serious threats (and opportunities) arise slowly and it is an important role of innovation strategy to look far enough ahead to see them coming and take action.

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