Key points you should take into consideration when creating an Innovation Strategy

Innovation must be approached in a strategic way, with clear goals and objectives. Creating an innovation strategy ensures coherency between the innovation and business strategies. The innovation strategy helps avoid conflicts between different sectors, guides everyone engaged in the innovation process and advances achieving specific innovational goals. Strategies should be unique and in sync with the SMART principle - specific, measurable, attainable, relevant and time-bound. An ambidextrous approach is useful when creating strategy, allowing to work on smaller improvements while simultaneously innovating breakthroughs. Partnering with the right set of skills is important for a successful innovation process.