A strategic approach to innovation

Abstract

Purpose-The aim of this study is to examine the concept of strategic innovation-which includes a strategic approach to innovation-within the framework of its antecedents, the elements forming it and the advantages provided to the company. Methodology-Theoretical analysis: Innovation has been analyzed from a strategic point of view by examining the current literature extensively. Findings-Along with the impact of globalization and the emerging new technologies, companies must manage the change by perceiving it as an opportunity to be able to sustain, grow and compete in a rapidly changing environment and respond to change with innovation. Innovation reflecting the perspective of companies on change creates value through change. In today's business world, there are true opportunities for the ones that can manage the process of change well. At this point, a company desiring to create value and maintain the sustainable competitive advantage should use innovation strategically. Conclusion-A strategic perspective on innovation leads the organization to look at the whole system beyond the product and the process in order to create value. Successful companies in innovation deal with it in a holistic and systematic approach by developing a fully integrated innovation strategy with its mission and objectives and by making organizational culture and organizational systems compatible with the strategy. Strategic innovation is a future-oriented concept that contains a creative discovery. The strategic consideration of innovation involves the use of appropriate strategic management techniques to increase the impact of innovation activities on growth and performance of the company.