According to a McKinsey & Company study, more than 70% of senior executives said that innovation will be one of the top three drivers of growth for their companies.
Unfortunately, at the same time they also said they were “generally disappointed” in their ability to promote it—but they knew intuitively that any sustainable effort must be grounded by their company’s people and culture.
The Nielsen Company, a leader in providing media measurement and other consumer and marketing information, recently did a study examining over 50 dimensions of new product development. Success among the largest packaged-goods companies varied widely. A key finding: In those companies where management stays away from the day-to-day development activity, much more revenue from new products was generated. Does it follow then, that the best place for “blue-sky” innovators is far away from corporate headquarters?
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