You Need an Innovation Strategy (if you don’t have one, here’s your life-saving guide to get one)

Many companies venture into innovation with little to no idea of what they’re trying to achieve. Research shows that the reason innovation fails is not a lack of execution but a disconnect of core-business and innovation activities. This not only results in ill-thought and executed projects but also stifles innovation across departments. To avoid this, create an explicit innovation strategy that is tailored to your company by asking yourself three questions: how will this innovation create value, how will you capture the value, and what types of innovations will allow the company to create and capture value.