Small Investment in Innovation
The PRNewswire website reported on a new study which showed that while the C-Suite values innovation and recognizes it as integral for the success of the organization, few companies are organized to intentionally drive innovation and allocate resources and investments in order to accelerate the creation of new value. The study found that the majority of leaders believe that the ability to implement an idea is one of the most important determinants of a company’s ability to succeed at innovation, but there is a disconnect when it comes to investing in this capability. “This disparity demonstrates the critical need for open innovation,” said one of the authors of the study. “In our experience, innovative leaders embrace emerging technologies, excellence in design and are a student of new business models that exist beyond their own industries.”
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