Phases of Strategy$/$Types of Innovation and the Problems they Solve: Many companies have mission statements that explain why they are in business, what their products$/$services are and the consumer market they target. Strategic management and innovation are ongoing processes organizations apply to analyze internal processes and resources that deliver products$/$services$.$ There are phases of strategy and types of innovation which must be applied with the strategic management process, and decision$-$makers must understand the purpose of each of them. Strategy and innovation are, at their core, about solving problems and there are as many ways to strategize as well as innovate as there are different types of problems to solve. Identify phases of strategic management as well as types of innovation and then discuss how they can work together to help solve problems within the organization.