Every organization has its own, specific approach when it comes to “innovation”. Many organizations have research and development departments, others have so-called innovation circles or “think tanks”. Some adopt innovation strategies that are open to the public, e.g., in cooperation with customers, where many innovations are realized overnight, virtually out of nothing or from scratch.
Corporate culture is a success factor (“culture eats strategy for breakfast”) and a spectre at the same time. Employees regularly demand more “corporate culture”, which is something like a “soft” ghost for the management. This elusive spectre always comes back and interferes with the “hard” daily grind of the business. On the other hand, the modern manager knows: there is no sustainable success without corporate culture. This is confirmed by all well-established studies.
Developing a strategy ensures the company’s long term success. Not addressing it means behaving negligently. But to date developing a «textbook example» strategy has been a complex, protracted and expensive exercise for companies.