Innovating from the Outside In

Innovating from the Outside In

To trump rivals, you must drive top-line growth. And that means generating a constant stream of new products and services. But if you're depending solely on your R&D team to innovate, you're putting your company at risk. Why? In many firms, R&D productivity is flattening while innovation budgets are climbing faster than revenues. A solution? Gather promising ideas outside your company--from other industries and from vendors, customers, even competitors. Then develop those ideas into new or refined offerings--quickly and cheaply--using your firm's R&D, manufacturing, and marketing prowess.

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