INNOVATION STRATEGIES IN THE CONTEXT OF THE PARADIGM OF THE FIVE DIMENSIONS OF INNOVATION STRATEGY

Background: As a concept that is owned and discussed by many business disciplines the terms innovation and innovation strategy can have many different definitions. This paper aims to provide an overview of innovation strategies in the context of the paradigm of the five dimensions of innovation strategy first introduced by Trilling & Blaeser-Benfer. A literature review was used to generate a representative pool of definitions of the term innovation, including definitions from the different disciplinary literature sources of economics, innovation and entrepreneurship, business and management, and technology. In a second step the core essences of the accumulated definitions are synthesized into a final definition of innovation. In a third step the synthesized definition of innovation is applied to the context of the paradigm of the five dimension of innovation strategy to allow the establishment of a coherent and cohesive overview of the resulting innovation strategies. Methods: This paper utilizes a first analysis of literature on innovation and innovation strategies which includes a number of academic journal articles and books, in total 23 sources, published between the years 1987 to 2019 to achieve its mentioned aim. Results: The central aim of this paper can be identified in providing a comprehensive overview of the topic of innovation strategies in the context of the paradigm of the five dimensions of innovation strategy and the presented definition of the term innovation. Conclusions: The information presented in this paper can serve as a clarifying starting point for further research activities in the field innovation and innovation strategy by providing a general overview of the topics mentioned. Based on the findings of this paper it appears reasonable to recommend further research to specify the characteristics and practical applicability of possible innovation strategies in different innovation dimensions.