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Importance of Strategic Management in Managing Innovation

Just as project management is necessary to successfully manage new product development (NPD) efforts, strategic management is an indispensable tool to manage innovation. Strategic management can hold the reins of innovation to give it a purpose and direction to make the innovation outcome successful and profitable. Innovation is an umbrella term that means it is […]

Implementing Strategies through Portfolio Management

Strategy implementation is the most difficult part of the strategy. Hrebiniak states that “Making strategy work-executing or implementing it through the organization is even more difficult. Without effective implementation, no business strategy can succeed.” [1] Prior to this work, Henry Mintzberg introduced intended and realized strategy to help clarify this implementation challenge. According to him, […]