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The Five Stages of Successful Innovation

Defining an innovation process increases companies’ future value.

he importance of innovation to a company’s future is unquestionable. Then why do so few companies have a process for it? The authors of a September 2006 working paper, Crafting Organizational Innovation Processes, address that question. Their underlying research comprised semi-structured interviews conducted with senior research and development, marketing and product management executives from more than 30 U.S. and European companies in several distinct industries, supplemented with data from annual reports.
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