A unified methodology for innovation strategy formulation: product and resource perspectives on the firm combined

In strategy research, resources and products can be considered two sides of the same coin. Thus, competitors can be identified not just by similarities among their products, but by similarities among their resources and capabilities as well. This conceptual paper introduces a unified version of the Booz Allen Hamilton methodology for innovation strategy formulation. It combines the product perspective with the resource perspective, building upon the strengths, weaknesses, opportunities and threats framework and the resource–product matrix. It offers a straightforward, easy-to-apply methodology for innovation strategy formulation that integrates internal strengths and weaknesses with environmental opportunities and threats.

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