Trends Report

Four Essential Components Of Successful Innovation Initiatives

April 2nd, 2009
Christopher Andrews, VP, Research Product Management
Christopher Andrews VP, Research Product Management
With contributors:
Thomas Mendel, Ph.D. , Edward Radcliffe

Summary

In 2009's difficult economic environment, many technology vendors are placing a renewed emphasis on their innovation capabilities. Not content with adopting a reactive market strategy, these vendors are pushing forward with plans to develop disruptive new products, services, and business models. While innovating during a recession is a viable strategy for many companies, many innovation efforts are destined to fail before they start as a result of poor planning and execution. To succeed, Forrester has found that winning innovation programs need the right structure, focus, and support. In this report, we consider four of the fundamental components of innovation and why they matter more than ever in the current operating environment.

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