A network of innovation: New era of rapid innovation requires new approaches to R&D

Abstract

Purpose

To investigate why many leading businesses are struggling to finance, invent, and commercialize their innovations.

Design/methodology/approach

Observes the changes in companies' R&D departments and approach.

Findings

It is becoming apparent to many leading businesses that the traditional model of innovation – where companies single‐handedly finance, invent, and commercialize their innovations – is increasingly ill disposed to meeting the growing demand for technology enabled innovation.

Originality/value

Demonstrates how R&D is working now compared to the in‐house style of the past.

Citation

(2006), "A network of innovation: New era of rapid innovation requires new approaches to R&D", Strategic Direction, Vol. 22 No. 10, pp. 39-41. https://doi.org/10.1108/02580540610704099