Integrating Innovation into Business Strategy: Perspectives from Innovation Managers

Daniel López () and Miquel Oliver
Additional contact information
Daniel López: Network Technologies and Strategies Research Group, Department of Information and Communications Technologies, Pompeu Fabra University, 08018 Barcelona, Spain
Miquel Oliver: Network Technologies and Strategies Research Group, Department of Information and Communications Technologies, Pompeu Fabra University, 08018 Barcelona, Spain

Sustainability, 2023, vol. 15, issue 8, 1-28

Abstract: This article presents the results of a literature review and the preliminary results of interviews with directors and innovation managers of large companies on the importance of innovation in business strategy, innovation strategy, and the factors they consider when choosing their strategy. Therefore, the study determines nine statements. There is no global consensus on the definition of innovation, which could affect its relevance in business. This contributes to the fact that the innovation department is not integrated as the main lever of the core business. A business strategy needs innovation, and a business innovation needs its own strategy. In fact, it is positive to incorporate the innovation strategy into the business strategy to improve productivity, performance, and sustainability. The innovation strategy is framed in a multidimensional way, and the innovation strategies are oriented to the offering, efficiency, and business plan. In turn, there are factors (internal and external) that affect or influence the decision of companies when deciding on an innovation strategy. It is also concluded that it is reasonable to consider that we can use the business strategy methodology to determine the innovation strategy. Future research could delve into how to establish a framework that defines the innovation strategy methodology with a unified approach where the main strategies and their components are revealed.

Keywords: business; innovation; strategy; technology; competitiveness; performance; business model; open innovation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/8/6503/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/8/6503/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:8:p:6503-:d:1121102

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().