Best examples of applicable innovation strategy in business

Innovation strategy is about building an engine that continuously collects ideas, selects the best ones, and transforms and executes them into successful projects that create business value. There are various innovation strategies that organizations can implement—from centralized to decentralized approaches, reactive to proactive innovation, and push/pull methods. It's also essential to build a good innovation strategy for success by conducting market analysis, involving stakeholders, setting up a regular meeting schedule, and executing plans. The best brands with great innovation strategies, such as Google, Philip Morris International, Amazon, Apple, Samsung, L'Oreal, and Tesla, focus on innovation by applying different approaches. The success of your innovation depends on your strategy, so learn more about it and innovate how you want your strategy to be.