About the subject
The fifth Big Six Questions of Strategic Management question deals with innovation strategy: considering how the focus of knowledge and learning changes when firms change their boundaries, adapting to the evolving market as innovation reshapes industries, and understanding the role that startup acquisitions play in balancing the innovation vs. efficiency trade-off.
Related questions
to consider
- How can firms increase the pace and scope of innovation without prematurely undermining existing sources of competitive advantage?
- How should organizations allocate resources and managerial attention between exploiting established opportunities and exploring uncertain new ones?
- What organizational structures, incentives, and management practices allow firms to pursue innovation while maintaining effective execution?
- How are AI and other emerging technologies changing the processes through which organizations generate, evaluate, develop, and scale innovation?
- How do hybrid, distributed, and technology-enabled forms of work affect collaboration, experimentation, knowledge transfer, and innovation?
- When should firms build innovative capabilities internally, and when should they access them through partnerships, acquisitions, startups, or other external relationships?
- What enables firms to translate successful innovations into scalable sources of growth and sustained competitive advantage?
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The big six questions
of strategic management
This is one question in a series, the Big Six Questions of Strategic Management, aimed at bridging the worlds of scholarship and practice. These questions serve as an inspiration to guide the development of actionable insights, frameworks, tools, and resources for the SMS community.