Digitalization, sustainability, global competition and geopolitical conditions are presenting traditional industrial companies with new challenges. Strategic innovation is needed to successfully address these by identifying, developing and realizing suitable business potential. With a sound scientific basis and numerous practical examples, this book explains the necessary dynamic capabilities for organizations and shows a systematic approach to establishing and applying them. For decision-makers, the book serves as both a wake-up call and a solution for achieving lasting success in the highly dynamic market environment of the 21st century.