Development of the Innovation Strategy

Daniel Huber, Heiner Kaufmann and Martin Steinmann
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Martin Steinmann: Firmament AG

Chapter Chapter 4 in Innovation Strategy, 2024, pp 27-64 from Springer

Abstract: Abstract We show how an innovation strategy can be developed in concrete terms. To do this, we need two strategies: a classic strategy, the Strategy for Excellence, which focuses on the needs of the present, and a strategy that focuses entirely on the future, the Strategy for Change. The Strategy for Change requires a new approach for its development. We proceed step by step along the six fields of the Innovation Framework. For reasons of feasibility, however, this double strategy must be divided in an alternative way into the Strategy for Exploitation and the Strategy for Innovation, the innovation strategy. We refer to this double strategy, by analogy with a binary star system, as the Two Stars Strategy. Chapter 4 thus provides the recipe for developing an innovation strategy in a systematic way.

Date: 2024
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DOI: 10.1007/978-3-662-69832-7_4

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