Innovation: A priority in spite of the recession

02.12.2009

Companies looking to achieve growth in the wake of the economic downturn define innovation as a top priority. This according to studies involving executives across a myriad of industries: automotive, banking, capital markets, consumer goods and services, electronics and high-tech, insurance, manufacturing, pharmaceutical and medical products, and retail.

In regards to future growth of a company, nearly 9 out of 10 managers responded that innovation is just as important, if not more, than cost reduction. Despite the recession, nearly half of those surveyed said their companies had increased funding for innovation. However these studies also found several imperfections involving the corporate management of innovation…

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