Strategic Innovation

Strategic innovation refers to the process of developing new strategies that significantly change how a business operates or delivers value, often in response to disruptive innovations. It involves rethinking business models, market approaches, and customer interactions to stay competitive. For instance, a company might adopt cutting-edge technology or explore novel partnerships to meet evolving consumer needs. While disruptive innovation introduces groundbreaking changes that can disrupt existing markets, strategic innovation helps businesses adapt and thrive amidst these changes by proactively redefining their strategies and offerings.