Many companies fail to get the most out of their investment in innovation. From our experience, this can be attributed to a variety of common pitfalls such as:
Best-in-class companies focus on the quality of their innovation management in a way that reflects a clear understanding of the kind of value they are trying to create and the context in which their business actually operates. That context is changing rapidly as the global competitive landscape responds to issues such as energy conservation, environmental sustainability, emerging economies, demographic disparities, social trends and technology convergence. For innovative companies, these changes are too good an opportunity to waste.
Nurturing and managing innovation is an intricate process, but if you can get it right, you will secure significant competitive advantage, both now and in the future.