Strategy and Innovation are quite distinct, requiring vastly different people, skill sets and processes. Try to do both at the same time and you’ll likely do none of either. That’s a serious problem.
A strategy is a coherent and substantiated logic for making one set of choices rather than another. In other words, it’s used to make decisions that drive action, whether that entails the overall mission of the enterprise, where it allocates resources or how it implements programs and processes.
The practice of innovation, unlike strategy, is about possibility, not direction. It involves a lot of fumbling around, chasing wrong ideas down blind alleys, experimenting and trying things out. The trick is that you fail quickly and cheaply, then move onto the next idea. Eventually you’ll get to something that works. If you can survive you can thrive.
Edison tried and failed thousands of times to invent the lightbulb before he got it right, then he sold a bunch and made a mint.
Via Peter Hoeve