Review:
Innovation Strategy
overall review score: 4.5
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score is between 0 and 5
Innovation strategy refers to the plan or approach that an organization implements in order to foster creativity, drive growth, and remain competitive in the market.
Key Features
- Identifying market trends
- Encouraging creative thinking
- Developing new products or services
- Collaborating with outside partners
- Measuring and analyzing results
Pros
- Fosters a culture of creativity and innovation within an organization
- Helps organizations stay ahead of competitors
- Can lead to breakthrough products or services
Cons
- Requires significant resources and investment
- May encounter resistance from employees resistant to change