Innovation strategy literature review

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Literature review on business prototypes for digital platform

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You Need an Innovation Strategy

Achievement of the goals and objectives that are set by an organization entirely depend on several factors, in the sense that failure to consider a single issue may contribute to failure or continuous decline in the performance of the respective organization. The management of a business organization is considered the fundamental organ within the organization that determines the chances of success or failure of the company. This is because it is responsible for controlling, decision-making, supervising, and monitoring of all the activities and practices within and outside the organization. The management is responsible for effective establishment and implementation of operational strategies and decision strategies.
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You Need an Innovation Strategy

Metrics details. Studies on open innovation in small and medium-sized enterprises SMEs have experienced a rapid growth over the last several years. Yet, there is no comprehensive review on this field of research. The objective of this study is to examine current research on open innovation in SMEs to integrate empirical findings and to point out future research agenda.
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Why is it so hard to build and maintain the capacity to innovate? The reason is not simply a failure to execute but a failure to articulate an innovation strategy that aligns innovation efforts with the overall business strategy. Without such a strategy, companies will have a hard time weighing the trade-offs of various practices—such as crowdsourcing and customer co-creation—and so may end up with a grab bag of approaches.
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