Developing an Innovation Strategy

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An organization's strategy should flow from the analysis of the market opportunity and threats, aspirations of its people, and the needs of its stakeholders. Strategy development encompasses the creation of a vision, selection of a mission, setting of goals, and development of a strategic plan. A strategic plan is the organization's interpretation of the market opportunity. It is its way to capitalize on the market opportunity based on its vision, mission, goals and capabilities. A strategic plan is organization dependent because no two organizations have the same vision, mission, goals, and capabilities. Therefore, even if two organizations uncover the same opportunity, they are likely to perceive it differently. A strategic plan is a way to minimize or avoid threats. It is a method to effectively utilize the organization, to satisfy the organization's stakeholders, and a way to provide competitive differentiation.
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Series:

Unknown

ASIN:

187033518X

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English

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