Strategic innovation is a combination of inquiry and action. It involves creative inspiration and needs a holistic approach. Strategic innovation is a systematic and organized process of combining traditional and non-traditional approaches to innovation so that short term results can be used as crucial insights for exploring long term possibilities. Strategic innovation is open minded exploration, experimentation, thinking, decision making, action and results oriented approach. It is learning by doing. Businesses must look beyond established boundaries and mental models.
About the Author
Venkatesh Ganapathy completed degree in oil technology from University Department of Chemical Technology (UDCT) in 1992. He joined Castrol India Limited as a Management Trainee and got exposure in cross-functional areas like Research, Technical Support/ Services, Database management, Project Management, ERP, Business Process Support etc. He earned a post-graduate diploma in management from Southern New Hampshire College, Boston in 1998. He joined full time academia in 2012 after two decades of corporate experience. Since then he has published more than 50 research papers.