INNOVATION2Innovation is one of the most important aspects that a company should embrace. Forevery company to succeed in the ever-changing and dynamic competitive business field, thecompany needs to embrace innovation and find effective ways to incorporate innovation into itsstrategy (Dogan, 2017). Company Strategy entails an effective plan of action that's designed toachieve the company's long-term purpose. The company can incorporate innovation into itsstrategy in several ways; planning its course of action, setting clear business goals, leadershipbeliefs, etc., can help in incorporating innovation in strategy.For every company to succeed, it needs well-defined leadership. The kind of leaders acompany has can either make or kill the company. Leaders determine the course of direction inwhich to steer the company. They plan the company's strategy largely based on their beliefs,culture, and the prevailing environment. At most times, company employees tend to innovatebased on the goals set by the leaders or company executives. This means that if that the leadersshould believe in the power of the innovation for it to be incorporated. Nokia failed because thecompany's executives failed to grasp the power of software; this means that any innovation madeby company employees in software wasn't in line with the company's strategies to be a continuein hardware. Since innovation is a plan that a company needs to take to attain a certain goal, thenthe leadership should believe in innovation.When a business plans a clear course of action, knowing what it needs to achieve, how toachieve it, and when to achieve it, then incorporating innovation into its strategy is easierbecause they form will believe that innovation is crucial to its success. The benefits that can beripped from incorporating innovation into strategy are many; the company will launch newproducts to the market, which will contribute to the company's profits. Each time companies
