A Bright Future Requires Bright Ideas from R&D

5 Jan 2011 Sandeep Mehta

Another survey of executives and another validation that innovation (or any current hot buzz word) is key. This time from Corporate Executive Board in A Bright Future Requires Bright Ideas from R&D.  We now have a significant increase in number of executives wanting innovation…

From CEB: Number of executives wanting innovation drive growth

Really?  Is innovation driven growth better than any other growth? Here is the key message

The best way for R&D to help their companies is to focus on the beginning of the innovation process – the ‘front end’. This is the part of the process where concepts for new products and services are sourced or created. RTEC researchers found that firms that were best at sourcing big new commercially viable ideas were good at two things: Securing organizational buy-in for funding big growth bets. Ensuring that growth ideas are differentiated and connected to pressing market needs.

 I guess those are good qualities to have.  As we have discussed before, the key problem with open innovation is  inability to overcome foreign body rejection tendencies of R&D organizations…

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