Driven by the need to respond to global hyper-competition and the increasing clock speed of technological change, companies are relying heavily on their R&D functions to accelerate innovation while maintaining tight budgets. However, organizational structures for R&D in large international companies are often sub-optimal and act as a major barrier to performance improvement. In order to successfully optimize R&D’s contribution to business value, companies need to address the three key dimensions of structure, governance and process. From our extensive work with the R&D functions of leading global companies, we have identified eight imperatives to ensure a successful transformation across these dimensions.
The recent economic crisis has confronted companies across Europe with major challenges. Small and medium sized companies in particular seemed to have a customer base too reduced to maintain their business. In such a situation there are two options: invest in developing new customers or invest in developing new, more attractive, offerings.
The Dutch Innovation Platform, a think-tank established by the Dutch Government, recently released a report Nederland 2020, Back in the top 5 outlining the steps the Netherlands needs to take to regain its former position in the top 5 of the World Economic Forum’s Global Competitiveness Index (GCI). In this article Rob Blaaboer, contributing editor from the Netherlands, suggests a way to reach the New Dutch economy, i.e. innovative, international and involving, and how to get back in the top 5.
It has long been said that travel broadens the mind. That has never been tested empirically until recently. And the result is that travel alone is not sufficient to boost creativity. Living overseas, however, has been demonstrated to improve creative thinking ability, according to a new study.