Section 7, Lesson 1
In Progress

Element 2: Link Innovation to Business Strategy Template Copy

“If you’re a company that makes hammers, why would you work on innovation to manufacture smartphones?” – Karen Maples

The second element of innovation fundamentals is linking innovation to business strategy. In this lesson, you will learn why it’s imperative to align innovation with your company’s overall strategy. It will take commitment and perseverance to integrate innovation into how your company operates. Through real-life examples and insightful questions, you will begin to see how innovation can become a repeatable and sustainable process that runs smoothly in parallel with your core business. You will also get tips on making your innovation strategy clear to senior leadership, key team members, and all employees.

Watch the video:

Key takeaways:
  • Link innovation to business strategy. 
  • Make sure you are working on the right things.
  • Create new value for existing and potential customers.
  • Focus on innovation becoming a repeatable and sustainable process.
  • For more in-depth insights about strategy, Karen recommends Good Strategy/Bad Strategy by Richard Rumelt.

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