Innovation strategy
If surveys and assessments show a solid foundation for moving on, an innovation strategy has to be drafted. If the solution only requires a smaller adjustment of an existing product, or if the solution is akin to an existing product, then there is probably no need for any signifi cant strategic considerations. If on the other hand the solution is a groundbreaking innovation the potential innovation strategy will have signifi cant consequences for the company’s value chain. A radical innovation may lead to adjustments in the business model, production methods, delivery system and marketing. Strategic decisions are often made by the top management.