Social Media

Innovate the Innovation Process to Become Truly Transformational

The innovation process will get stale and unproductive if it relies solely on R&D. Innovation processes should be linked to business strategies to transform everything from operations to product and services development.
— By Debra Jenkins

Big spend on R&D is always justified as the path to innovation and improved financial performance, but is it? Financial performance of investments in new products and services is a key metric for measuring the validity of the level of R&D investment, but how does a company know whether it could do even better by disrupting the current process and implementing new innovation strategies?

In many cases, R&D remains a siloed process not aligned with business strategy. Businesses need a more inclusive innovation ecosystem that embraces the people who are responsible for developing and implementing business strategies, employees, and external stakeholders. Too often, R&D is one silo, and strategy developmen...

Please Login for full article.