Sustained growth in any organization necessitates innovation because it's the engine that propels businesses into new markets, keeps them competitive, and responds to changing consumer demands and technological advancements. Without innovation, companies risk stagnation, losing market share to more agile and creative competitors. Innovation drives the development of new products, services, and business models, fostering a culture of continuous improvement and adaptation.
A Strategic Innovation Engine integrates systematic processes for continuous innovation, embedding it into the organizational culture and ensuring a steady stream of new ideas and solutions. This approach not only identifies and exploits new opportunities but also aligns innovation with strategic goals, ensuring that growth is not just sustained but also aligned with the company's vision and market demands.
One person comes up with all the ideas
No documented process for innovation
No scorecard for innovation
No R&D tax credits or incentives
Learn how to command a premium multiple on your business
Find out why buyers discount their offers
See how innovation can help you create a premium valuation
Estimate your company's innovation index