The introductory chapter to this part highlights the importance of anchoring innovation activities along the strategic direction of a company. Based on their strategy, a company communicates and draws its own understanding of its future self, while innovation activities ensure that this picture becomes reality. A strategy further nurtures a common sense of what is happening to the company and why it is happening. Hence, a well-communicated strategy enables employees to understand what they are working towards and what their individual contribution towards success is. Depending on the market a company operates in, a strategy should further integrate a sense for adaptability. The introductory chapter ends with a best practice example indicating which areas are most important and critical for strategic development.