Definition
Innovation strategy is the plan for creating and implementing new ideas to achieve competitive advantage. Founders reach for it when a vague conversation needs a shared, specific meaning. Name it clearly, then let the next decision — a hire, a price, a test, or a pass — follow from that meaning.
In the room
How the word shows up in a real conversation.
You know Innovation strategy is doing work when it changes a weekly choice — price, hire, channel, or kill. The working definition: Plan for creating and implementing new ideas to achieve competitive advantage.
Common mistake
Using Innovation strategy as a label instead of a fact. If you cannot point to the evidence — a number, a customer, or a written assumption — you are using the word as jargon.
See also
Innovation
Process of creating new ideas, products, or methods that add value.
Read definition →
Innovation design
Creative process of developing new solutions to meet customer needs.
Read definition →
Innovation management
Systematic approach to fostering and managing innovation within organizations.
Read definition →
Innovation pipeline
Structured process for developing and bringing new ideas to market.
Read definition →
Research more
Open the word in an AI tool with a ready prompt. We do not send your data.
Get one word every week
A 3-minute read: 1 word, 1 founder lesson, 1 tool.