For Business Process Professionals

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	June 30, 2004 Firms Confront Growing Innovation Demand Companies Struggle Converting Inventions Into Profitable Innovations by Navi Radjou with Bobby Cameron, Erin Kinikin, Liz Herbert

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Executive Summary

To discover how well firms are positioned for innovation-led growth, Forrester surveyed product development execs at 20 manufacturers worldwide. Only 6% of these firms are very satisfied with their innovation performance in the face of growing innovation demand driven mostly by customers and competitors. Expectations for innovation run high, but firms fail to measure whether they deliver against these expectations. The firms we interviewed no longer cling to vertically integrated innovation models. Twenty percent of them now source half of their inventions externally, and another 20% license a quarter or more of their own innovations to other firms. And this networked innovation model is driving our respondents to re-evaluate their core competencies as they add sourcing and marketing to their innovation skills.

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