Defining an innovation strategy involves a number of key functions
Moving from chance innovation to innovation strategy

Defining innovation strategy is an internal matter for the company: it is not shared with customers or suppliers. It should be emphasized that this is a matter of defining the content of projects and programs, and allocating resources: the participation of external players who are involved in other company activities, such as innovation watch, is excluded or marginal here. From a practical point of view, only a few players are involved in defining innovation strategy: senior management, the R&D department and the strategic marketing department.

The role played by senior management in shaping innovation strategy is reflected in two different forms of involvement:

• General management legitimizes the choices proposed by the R&D department or the business units, without getting involved in the framing and choice...