Optimal approach to Innovation depends on a context.
Where is your business? 

1) Is it relatively stable and is prime for incremental innovation;
2) is it struggling so you need to pivot, or
3) The situation is dare and it can truly use a game changer.

1) Why innovate if things are going well?

• Because it is easier so even Incremental will work!

2) How to Pivot?

• Note - do not change a fundamental business model! High volume low margin vs low volume high margin - hard to shift. They have different customer experience models and will not work if combined in one company.
• Change technology to reinforce a business model

3) Integrated transformation - game changer

• Top down vision + Bottom up knowledge and innovation empowerment
• Core process redesign

Hot Topic - Innovation in High Tech industry

• Disruptive is common, game changer is aspirational
• Do not buy Ferrari to go to the grocery store!
• Lessons from Blackberry - lost touch with customer needs.
• Lessons from Nortel - game changer is hard to capture - to gain both large technology change AND large market share.