Impact of Strategy on Successful Innovation

Although innovation as an abstract concept can play a pivotal role in the world of business, the successful implementation of innovation as a component of an organization’s business strategy can have a considerable impact. The use of innovation can vary among different organizations, and each case can provide useful knowledge and awareness. Not only should business professionals consider innovation as a specific concept to drive development, but they should also understand how it provides essential insight of the past, present, and future success of an organization.

o How did the company capitalize on the value of the business strategy process? o What approaches would you recommend for this business seeking to enhance strategic innovation? o What data would you leverage within a business strategy? o How might you utilize business strategy to further innovation within this organization?