Creating new value means more than developing new technologies, products, and services using traditional product development processes. Strategic innovation covers all areas of the business model —customer experiences, distribution channels, modes of delivery, partner networks, and market spaces.
https://www.productivityinc.com/innovation/
For the past 20 years, the theory of disruptive innovation has been enormously influential in business circles and a powerful tool for predicting which industry entrants will succeed.
https://hbr.org/2015/12/what-is-disruptive-innovation
The Difference between Strategy and Innovation. Strategy and innovation are often conflated. Recently, I even had someone say to me, “last time I checked, strategy and innovation were the same thing, is that not correct?” in a tone just like the one my 2nd grade teacher reserved for the dullards in the class.
http://www.digitaltonto.com/2012/the-difference-between-strategy-and-innovation/
What can we learn about innovation and growth from the most successful growth companies? Global competition and a weak economy have made growth more challenging than ever. Yet some organizations such as Apple, Amazon, and Starbucks seem to defy the laws of economic gravity.
https://www.extension.harvard.edu/professional-development/blog/innovation-strategy-4-key-tactics-top-growth-companies
The quest for meaning. The term “strategic innovation” has often a fuzzy meaning. It’s used to mean important innovation, or urgent innovation. Sometimes, “strategic innovation” may refer to C-level innovation projects. Each of these terms provide a shed of light on the meaning of “strategic innovation”, but they fail to answer a more fundamental question on the purported strategic nature of innovation.
http://theinnovationandstrategyblog.com/2013/01/22/whats-strategic-innovation-a-fuzzy-word-or-a-meaningful-concept/
Too frequently, they use the term loosely to invoke the concept of innovation in support of whatever it is they wish to do. Many researchers, writers, and consultants use “disruptive innovation” to describe any situation in which an industry is shaken up and previously successful incumbents stumble.
https://hbr.org/2015/12/what-is-disruptive-innovation
And that’s why the difference between innovation and strategy is so important. Strategy is a primary function of senior management. Innovation is not and shouldn’t be. Once they get involved, buy-in increases, costs rise and failing quickly and cheaply becomes very, very hard.
http://www.digitaltonto.com/2012/the-difference-between-strategy-and-innovation/
Failure, on the other hand, is an integral part of innovation, which is usually neither coherent nor substantiated, but a dirty, messy business. After all, if you knew what you were doing, it wouldn’t be innovation, it would be execution. The practice of innovation, unlike strategy, is about possibility, not direction.
http://www.digitaltonto.com/2012/the-difference-between-strategy-and-innovation/
The problem with conflating a disruptive innovation with any breakthrough that changes an industry’s competitive patterns is that different types of innovation require different strategic approaches.
https://hbr.org/2015/12/what-is-disruptive-innovation
Strategic Innovation. It takes more than sustaining and improving current forms of value to build a platform for success in tomorrow's business environment. Organizations need to explore strategic ways to devise new and innovative forms of value — not in sporadic “aha!” moments, but as an evolving enterprise capability.
https://www.productivityinc.com/innovation/
what is innovation strategy
An innovation strategy is used to mean important innovation, or urgent innovation.