Emerging Tech

The Power Of Collective Innovation

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Executive Summary

Most companies have Marketing, Research & Development (R. & D.) and/or New Product Development (NPD) functions staffed with professionals and managers who are responsible for innovation. The vast majority of the products/services are created and launched by these functions. There are a couple of other innovation sources that are used inconsistently. The first is outside innovators, from large well-known companies like Ideo or Nottingham & Spirk, to small shops. Using a larger firm gains access to its breadth of expertise but is also more costly.

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