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Tuesday, November 03, 2009
While trying to find answers for questions like what kinds of innovation will best help us to emerge from recession stronger than we went in, to gain market share, or to thrive in new and exciting markets, the GT report finds that the U.S. is the easiest country to create innovative products, services and business. Different geographical regions have varying degree of emphasis on innovation. Innovation in general is regarded as a top corporate priority by more executives in Western Europe (41 per cent) than in North America (33 per cent) or in Asia Pacific (31 per cent), while Asia Pacific places higher emphasis on customer led innovation . One of the key finding is the role of customers, along with the attitude of companies to their customers, emerges as a defining characteristic in the survey. The report notes "No longer simply passive recipients of goods and services, customers now help to shape the future of their own consumption." They are now the leading source of innovations globally (41 per cent), more important than anything inside companies, including research and development. Clearly, co-creation seems to be driving more value.
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