Innovation: A Chimera No More

Innovation is celebrated far and wide, but the lack of a shared, accurate definition has undermined our collective ability to manage it effectively. The implications are anything but academic. Companies that treat an attack based on differentiation as if it were breaking important trade-offs may overreact, but mistake a true innovator for the merely different and the pain can last for decades.

Michael E. Raynor, Heather A. Gray

Strategy is defined by the trade-offs you exploit, while innovation is defined by the trade-offs you break.