Should innovation activities be linked to our efforts to dev

Should innovation activities be linked to our efforts to develop a strategic advantage or should innovation efforts be experimental with an objective of finding products or services that may be profitable at some indefinite point?

Solution

Innovative activities should be linked to both: developing a strategic advantage and also finding new products of Service that may be profitable in the future.

There are times when management does not have time to use Plan B or plan C , during business, sometimes they need to take risks and innovate the way they do business, when humans are facing a great adversity is the time when they come out with the most innovate ideas to do things different or to create something new.

When you are creating a new service and product it is important to determinate the segment market you will sell it to, there are various standard businesses that work the same all over the globe but it is important to innovate on the processes in order to get an strategic advantages over your possible rivals, this is why innovation is important when creating something new.

Every time we innovate we challenge ourselves to be better