Optimizing R&D functions is crucial for companies to accelerate innovation while still managing budgets. Focus on structure, governance, and process to drive successful transformations.
Nesta's latest report shows that the UK has experienced a "lost decade" of innovation, with investment in innovation falling by £24bn and not yet recovering since the recession. The report highlights investment, systems, and people as key factors in improving the UK's ability to innovate.
Design thinking can help companies succeed by applying design principles to innovation and strategy. It involves understanding the problem, brainstorming, prototyping, testing, and implementing.
