Innovation processes and tools among middle market companies

10/2/2015

Innovation—or the introduction of new ideas, products, services, processes, and practices—drives revenue growth for industries and individual companies alike. In the middle market specifically, companies that rate themselves very good at innovation are significantly more likely than less innovative firms to experience rapid revenue growth of 10% or more per year.

In the middle market as a whole, innovation initiatives tend to skew in a conservative direction, focusing on familiar markets and employing familiar knowledge rather than venturing out into unmapped “blue oceans.” Contrary to conventional wisdom, these close-to-home innovation initiatives appear to result in greater profitability and value capture for middle market firms than more risky initiatives.

That said, the most adept middle-market innovators, which are also likely to be the fastest-growing companies, maintain innovation portfolios that include more adventurous projects.

This report provides:

  • Key Takeaways for middle market executives to consider when it comes to innovation within their own firms.

  • Detailed Research Findings from a survey among 400 middle market leaders and senior managers who share in responsibility for innovation at their companies and additional leaders in each of three innovation-intensive industries—health and life sciences, industrial, and technology.

  • Processes and Tools used by middle market firms for generating, selecting and implementing innovative ideas.

  • A Comparison of top innovators to less effective innovators and the overall middle market.

View Infographic: A Guide to Successful Innovation in the Middle Market

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