Long-standing policies towards research and development no longer support manufacturers’ success, as mergers and globalization continue, due to:
- Demands for bigger profits from investors who are distant from the business reality
- Bigger investment in innovation needed to give future success
- Shortening timescales as globalization introduces pressures from BRIC economies
How is this affecting the innovation options for businesses? How can you make sure that you are ready to grasp opportunities that only lay within completely new development?
In this article I look at examples of innovation driven by urgent need to compete rather than long-term thinking, and how this affects innovation paths. In addition, I offer some take-aways on how to do innovation even better next time.