Successful initiation -the sort that leads to gains and customer involvement -is infrequent and challenging to attain, or so one might conclude from observing the results of many companies'innovation attempts. Some have tried investing intensively in research and development. But the author lately examined public companies representing almost 60% of global R&D expenditures and found that above a certain minimal level, there's normally no correlation between R&D spending and monetary metrics such as sales or profit increase. For many businesses, developing new products is hit or miss. But according to the research of the writer, successful innovation isn't magic. It comes from cautious attention to a small number of criteria that are significant. The key question is not how much to spend, but how to spend.
Which Innovation Efforts Will Pay Case Study Solution
The ROI2 approach is founded on a series of invention studies conducted during the past seven years with companies in the consumer products, health care and chemical industries. A company must diagnose its innovation practices and capabilities, to become effective. The identification can be very distinct from one business to the next, and that is why embracing sector standards does not work. This curve lets businesses plot yearly spending on innovation projects against the financial returns from those jobs -and "solve for growth."
PUBLICATION DATE: October 01, 2009 PRODUCT #: SMR332-HCB-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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