Sagentia survey of top companies reveals 60% plan to spend more on innovation
This article has been taken from The Gen newsletter - Summer 2008.
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Sagentia surveyed innovation and technology professionals at the Annual Front End of Innovation conference in Boston in May, revealing that 60 per cent of respondents plan to spend more on innovation in the next year. There was also an overwhelming agreement that the best approach to building an innovation capability is one that combines an internal innovation change team with external parties.
The most significant barriers to innovation were identified as resources, executive support, time, culture and process, far outweighing funds and lack of openness. However respondents were split on the influencers of innovation, with 53 per cent identifying the right process and structure, and 47 per cent attributing this to a culture that lets ‘serendipity shine’.
The conference is produced jointly by the Product Development & Management Association (PDMA) and the Institute for International Research (IIR), and was supported for the sixth year by Sagentia. It is one of the most vital events for those seeking to learn more about innovation.