Strategic Innovation in Practice

Abstract

The race between China, the USA, and the EU will be decided by strategic innovations and not by business models. Due to the rise of China and other non-Western countries, it is necessary to increase the scope of renewal beyond the micro-level of business models. The several Chinese and Western cases presented in this chapter reveal totally different approaches and interpretations of strategic innovation. The issues connected to leadership, institutional innovation, business development, and new forms of governance determine the future of the world economy. In the comparison between the practical appliance of the strategic innovation in the West and China, it will appear that only those leaders who understand the fundamentals are able to prepare their organizations for the future. These fundamentals are changing the way of working in both the West and China. All have to adapt to a new emerging business world in which strengths and weaknesses create huge challenges for China, the USA, and the EU. Now it is the time for real global business leaders understanding each other’s world.