How strategic is your innovation?

Your strategy is your overall approach to achieving your purpose. You can only have one: strategy is a singular thing.

Is your organization serious about the role that innovation plays in achieving its purpose? If so, to what extent is innovation part of your overall approach (your strategy)?

There is an increasing recognition of the relationship between an organization’s performance and its approach to innovation. See, for example, this MIT Sloan Management Review article: “Are Innovative Companies More Profitable?”, which refers to “a culture of innovation”.

As organizational innovation matures and becomes accepted and expected, it is increasingly clear that it is more effective when it forms part of an organization’s strategy.