Article

Strategy Innovation

Peter J. Williamson

in The Oxford Handbook of Strategy

Published in print April 2006 | ISBN: 9780199275212
Published online September 2009 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199275212.003.0028

Series: Oxford Handbooks in Business and Management C

 Strategy Innovation

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The process of business model renewal is what is termed ‘strategy innovation’. It is not simply about improvements to a product line or service offering incremental reductions in costs. Strategy innovation constitutes a fundamental innovation in the company's business model; a significant change in the way it makes money that opens up new sources of competitive advantage. This article explores how a company can go about improving its chances of successfully meeting this challenge of continually renewing its business model by creating a flow of profitable strategy innovations launched into the market at opportune times. The first step towards meeting this challenge is to understand how far and how fast a company's established strategy is decaying and therefore how urgently the launch of a strategy innovation is required.

Keywords: strategy innovation; business model renewal; product line; service offerings; competitive advantage; profitable innovation

Article.  12019 words. 

Subjects: Business and Management ; Business Strategy

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