This article is about company’s approach to innovation and how innovation could contribute to a useful strategy making … history of innovation, have made it primarily an R&D issue, or are struggling to make their innovation efforts pay off …, executives need specific guidance on how to tailor a successful innovation strategy to their individual company situation. …

Many companies try to create a centralized program for managing innovation. Usually innovation is delegated to the … marketing or R&D department or sometimes a new function is created to manage innovation across the organization. Unfortunately … such models for fostering innovation are insufficient and inefficient. Innovation is limited by the available talent …