Innovation is also about business development

>> Friday, October 23, 2009

Worth reading. As the author remind us, Gary Hamel points out that few companies are innovating around business models, where long term competitive advantage can be achieved.
R&D and Innovation should never be just product or technology development. Business and corporate development must also be a spotlight for R&D.


"Something happens when you put on a lab coat and safety glasses. You have the immediate ability to explore concepts and ideas that may, or may not, become new products. And your time horizon shifts dramatically. Many people in primary R&D are examining technologies or molecules that won't become products for many years.
The question we as innovators should ask ourselves, and our companies, is: why is this kind of thinking and investment committed solely in technology R&D? Why, in a pharmaceutical company, is there a team that is actively investigating new compounds and molecules that may become new drugs, but no one that is actively investigating new business strategies, new organizational hierarchies, new management philosophies? Why is innovation confined to the "R&D" wing of the business, and walled off from all the other things we do to add value to a business?"


R&D for the rest of us
By Jeffrey Phillips, Innovate on Purpose


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