| Issue |
SHS Web of Conf.
Volume 178, 2023
3rd International Conference on Public Relations and Social Sciences (ICPRSS 2023)
|
|
|---|---|---|
| Article Number | 03018 | |
| Number of page(s) | 4 | |
| Section | Corporate Marketing Strategy and Innovation Development | |
| DOI | https://doi.org/10.1051/shsconf/202317803018 | |
| Published online | 23 October 2023 | |
The Relationship between Innovation and Strategy
University of St Andrews, St Andrews KY16 9AJ, United Kingdom
The study emphasizes the significance of design strategy as a means to accomplish the innovation process, wherein companies utilize design thinking to develop innovation strategies encompassing various dimensions such as business, organizational, marketing, and technological innovation. Additionally, the study discusses disruptive innovation strategies and their impact on industries and markets. The study concludes that while innovation can result from Strategy, the absence of Strategy and innovation can lead to business failure. Timely adjustment of strategies and alignment with focus areas and available resources lay the foundation for successful innovation.
In summary, this research highlights the causal relationship between Strategy and innovation, emphasizing the importance of design strategy and disruptive innovation in driving organizational competitiveness and market success. Integrating innovation into Strategy and embracing design thinking as a problem-solving approach is crucial for companies to thrive in today’s dynamic business environment.
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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