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Running head: INNOVATION
How Leadership Can Impact Innovation
For this business seeking to enhance strategic change, the ideal approaches include
making innovation the new norm. Marketing is what enables companies to compete in their
respective niches while adopting a culture of creativity that can give companies a competitive
edge. Strategic innovation can be achieved by making innovation a company value. The
company leaders can talk about change in company meetings and get-togethers to familiarize
staff members with the new norm. Strategic change can also be enhanced by understanding the
pain points of customers with the company's products or with competitors' products. If
customers are not satisfied with existing products, this means that there is an innovation
opportunity that is lying dormant (Kingsley, 2018). Thus, every problem that an organization
faces in the market presents an opening to innovate and thrive. For instance, an organization can
leverage certain technologies to make its packaging distinctive.
Organizations can enhance strategic innovation in their businesses by looking broader,
beyond the industry, for ideas. In most cases, the best ideas for innovation do not come from
within the industry (EDUCBA, 2019). Many companies look to the in-house team when looking
for innovations. Strategic innovation can be achieved by having an in-house team that scouts for
ideas which can be integrated into their domain.
Within a business innovation strategy, the ideal data to be leveraged is big data. Big data
can give the company insight on its target audience, including their habits, buying behavior, pain
points, where they prefer to shop, and why they switch to competitor products. With this
information, a business will be able to engage and interact with its customers more accurately.
Big data helps companies target the right audiences and on the proper channels.
With big data, a business can scope out the competition using tools such as Google Trends to
determine how popular a product or brand is (Kubina et al., 2015). For example, if a bu...