INNOVATION AND STRATEGY

Abstract

To understand the concept of strategy and innovation, it is important to consider that innovation strategy is the critical link between new product development efforts and your overall business strategy. Products may be successful internationally because of price, quality, design, or simply because of a larger sales network or more advertising. But how have these competitive products been made possible? How have they been generated? The answer is: through innovation. In a first approximation, innovation is synonymous with change.