Not So Similar After All: Exploring The Diversity Of Strategic Orientations For Innovation

Innovation has gained growing attention in the strategic management field, and — as a strategic orientation — it has been predominantly considered as a homogenous class of differentiated strategic mindsets. This contribution aims at distinguishing different sub-typologies of innovation strategies and validating their profiles and consistency. It explores approaches discussed in the mainstream literature as well as the possibility that other orientations could exist. A cluster analysis outlines four strategic orientations showing differences in terms of competitive drivers, value creation architectures, outsourcing and alliance policies, and managerial processes. Findings offer scholars and practitioners a better understanding of strategic alternatives in pursuing innovation through the identification of systems of consistency among managerial variables — e.g., configuration of the supply chain — thus fostering uniqueness and sustainability of the competitive advantage, and driving managers’ decision. In particular, what really characterised the different innovation strategies here shown is the way they deal with the value chain structure, meaning a key part of the business model.