Strategy is Innovation
Vijay Govindarajan, PhD, Earl C. Daum 1924 Professor of International Business, Tuck School of Business, Dartmouth College
We now live in an era of almost constant change. First, new technologies continue to emerge at an ever-more rapid pace. Second, globalization brings with it new markets, new customers, nontraditional competitors, and new challenges. Third, the Internet has created much greater transparency to any company’s strategy, actions, and performance. As a result of these forces, companies find that their strategies need almost constant redefinition—either because the old assumptions are no longer valid, or because the previous strategy has been imitated and neutralized by competitors, or because technological developments and globalization offer unanticipated opportunities. Rooted in these premises, the strategic challenges for organizations are many.