How can companies develop a strategy to not only collect internal feedback effectively but also ensure that it is integrated into their decision-making processes in order to drive innovation and outperform competitors in today's fast-paced business environment?

Companies can develop a strategy to collect internal feedback effectively by utilizing various channels such as surveys, focus groups, and suggestion boxes. To ensure that this feedback is integrated into decision-making processes, companies should establish clear communication channels between employees and management, create a culture that values feedback and innovation, and prioritize the implementation of feedback-driven initiatives. By consistently gathering and acting upon internal feedback, companies can drive innovation, stay ahead of competitors, and adapt quickly to the rapidly changing business environment.