The Rise Of Innovation Empires: Companies Set Out To Defeat The New 'Kodak Moment'

Abstract

In today's highly competitive economy, innovation is more critical than ever. One survey found that 65% of senior executives face increased pressure to innovate. However, to innovate is easier said than done. In 2014, for example, around $1.6 trillion was spent on R&D globally. Despite this substantial investment, the results are dismal. In consumer goods, for instance, research shows that more than 85% of new products fail. The challenge though is that larger organizations often work against themselves when it comes to identifying and investing in emergent technologies.