The increasing interest of innovation is a result of the boosting globalization. The fierce competition of foreign companies forces enterprises to continuous innovation.
Of course, a lot of research and development is necessary to produce innovative prototypes.
During these hard financial times, innovation is a priority to boost the global economy. In that way, the demand will be stimulated which will led to a return on a path to growth.
A new report published by the National Endowment for Science, Technology and the Arts (NESTA) confirms the importance of innovation. 78% of 850 managers considered innovation important in terms of improving their products and services.
I think it’s very clear that the focus on innovation has been reinforced the last few years. Mainly during the recession, innovative breakthroughs are efficient proactive strategies to challenge the downturn. Of course, in periods of deep recession, companies are faced with a scarcity of resources and facilities. So testing new ideas and prototypes requires total commitment and focus.
We can conclude that innovation is absolute necessary during hard financial times but it isn’t always successful. I refer to the blog of matthias Sterckx: ‘Using the new iPad is stopping innovation’, that warns us for a cut down of great innovations. Apple controls the future because they wrestle a lot of power away from its rivals and partners.
It’s clear that the nature of innovation is changing. Moving fast to seize opportunities and responding quickly to challenges are more important than the ‘eureka moments’.
Lennert Thomas, groep 7
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