Final answer:
An a) innovation strategy focuses on launching new products and services to secure a competitive edge and potentially earn higher profits. It is crucial for companies wanting to stay ahead in the market.
Step-by-step explanation:
An innovation strategy emphasizes the introduction of major new products and services. This approach is integral for companies that prioritize bringing fresh ideas to market, which can provide them with a competitive advantage, often leading to above-normal profits. As an example, the CEO of Samsung, Gregory Lee, has highlighted that the "Relentless pursuit of new innovation is the key principle of our business". This strategy embodies the compelling need to consistently pursue novel paths that capture consumer interest and respond to evolving market demands.