Innovation is a perennial management challenge. That’s why, for decades, MIT Sloan Management Review has been publishing new research and insights about innovation — from top researchers at business schools as well as from leading business executives and consultants. For this article, we tapped into that knowledge base.
So, for a given business to grow, increase profits, or even survive in the future, it is very likely to need innovation to achieve any, let alone all, of the aforementioned goals. How do businesses innovate? Traditionally, innovation has been almost synonymous with R&D.
The authors developed their insights into innovation from interviews at more than 40 organizations in an array of industries, a survey, and fieldwork at more than 50 companies.