Innovation means, first, the systematic sloughing off of yesterday. It means the willingness to organize for entrepreneurship, to aim at creating new businesses rather than new products or modifications of old products. Business Strategies for Tomorrow - Unique events cannot be planned. They can, however, be foreseen, or rather, one can prepare to take advantage of them. One can have strategies for tomorrow that anticipate the areas in which the greatest challenges are likely to occur, strategies that enable a business or public service institution to take advantage of the unforeseen and unforeseeable.
Planning tries to optimize tomorrow the trends of today.
Strategy aims to exploit the new and different opportunities of tomorrow. Any institution needs to think strategically what its business is doing. It needs to think through what its customers pay for. Every institution needs to think through what its strengths are. A Scorecard for Managers - Performance in management, therefore, means in large measure doing a good job of preparing today's business for the future.