- The Sequence and Outcomes of Strategic Innovation

Defining Strategic Innovation

“If you look at common definitions of strategic innovation from academic and professional publications, you can observe the following three outcomes of strategic innovation:

Strategic innovation leads to either:

• new business models (including a new value chain architecture), or
• new markets (either by creating new ones or reshaping existing ones), or
• increased value for both the customer and the company
  or a combination of these three.

Drawing upon the above said, strategic innovation can be defined as:

• a framework of interdependent content, process and context dimensions,
• facilitating the application of creativity and innovation to strategic management
• in order to enable strategic differentiation and competitive advantage,
• by challenging conventional logic and redefining the company’s business model, redrawing market boundaries, creating new markets and value improvements for customers and the company itself.”