9.7.4 How Innovation can become Part of the Corporate Strategy Implementation?

The application and management of innovation is of significant importance for a company´s competitive advantage. It is part of the corporate strategy management.

Therefore:

  • It has to comply with company priorities;
  • Introduction of innovation presumes changes that have to be managed;
  • To be implemented, the innovation strategy has to be financially provided for;
  • Even if the company does not do research, innovation strategy implementation presumes availability of skilled professionals, training, use of outside experts.