"Strategic innovation" involves:
A)Limitless financial and organizational resources
B)Spending more on Research & Development than your competitors
C)Top managers' total dedication to achieving timely innovations
D)Pioneering in at least one of the three dimensions: new industry, new customer segment, or new source of competitive advantage

Question

Quizplus · Accepted Answer

Strategic innovation involves pioneering in at least one of the three dimensions: new industry, new customer segment, or new source of competitive advantage. While having financial and organizational resources and spending more on research and development can certainly be helpful, they are not the defining factors of strategic innovation. And while top managers may play a role in driving strategic innovation, their total dedication alone does not guarantee success. It is the ability to identify new and unique opportunities in the marketplace and successfully capitalize on them that defines strategic innovation.

"Strategic Innovation" Involves