Innovation and strategy

Rarely are they discussed together. Often they are treated as separate disciplines. But they can benefit from each other.

Innovation is something new that creates value for the customer. The core is the new thing and the value it creates (from the customer's perspective).

Strategy is the  actionable way resources are targeted to create an advantage (for the company). The core of strategy is statements or decisions about where and how.

A strategy is not essential for innovation, i.e. for something new. Nevertheless, it is advantageous if it also contains a strategic component.

The same is true for strategy. A good strategy is obvious in hindsight, simple, yet different or new. To make it somewhat unexpected (and keep competitors in the dark), a value-added novelty factor for the strategy is desirable.