An Accenture survey of Chief Executive magazine readers determined that the majority of CEOs feel innovation-in everything from products and services to business models-is one of the five most important factors required for competitive advantage. The research suggests that companies can improve their efforts by focusing on two fronts that are critical for innovation to flourish. They can build the context within their organizations by creating well-defined strategies and processes-including the staff to evaluate ideas, a system for rewarding risk and methods for measuring success. And they can rely on effective partnering-with outsourcing organizations and other external resources-to boost innovation execution capabilities.
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