What separates the Best from the Rest in Global Innovation?
With responses from 651 companies in 37 countries, the survey results reveal that no single capability is necessary or sufficient to explain best performance. However, the best-performing firms are much more likely to have a new product strategy that encourages radical innovation, is oriented toward risk-taking and long-term, and strives for growth through entering new markets and new technologies. They are also more disciplined at NPD, which translates in superior development cycles times. This allows the best performers to prioritize costs over quality and quality over development speed. Comparisons with earlier surveys show that firms must continually evolve their NPD capabilities just to “stay in the game” as the business and technology environments change.
The publication, which is co-authored with M.P. Knudsen, A. Griffin and G. Barczak, is available as an ’open access’ paper at https://doi.org/10.1111/jpim.12663