Innovation is the most important driver of growth. Today, more than ever, companies need to innovate to survive.
But successful innovation – measured in dollars and cents – is a very hard target to hit. Companies obsess over being creative and innovative and spend significant time and expense in designing and building products, yet struggle to monetize them: 72% of innovations fail to meet their financial targets – or fail entirely.
Many companies have come to accept that a high failure rate, and the billions of dollars lost annually, is just the cost of doing business. Monetizing Innovation argues that this is tragic, wasteful, and wrong.