Innovation and Technological Strategy

Innovation and technological strategy in strategic management refers to a company's plan for using new ideas and technologies to improve its products, services, or processes. It involves identifying emerging trends, investing in research and development, and integrating advanced technologies to gain a competitive advantage. By focusing on innovation, companies can better meet customer needs, enhance efficiency, and adapt to changes in the market. This strategy is crucial for sustaining growth and ensuring long-term success in a rapidly evolving business environment.