Innovation is the lifeblood of a successful company. New ideas, products and processes enable businesses to meet evolving customer needs, capture opportunities for growth and provide value in a changing landscape.
Maintaining a consistent focus on innovation, even during times of upheaval, results in long-term benefits. For example, organizations that continued to invest in innovation throughout the 2009 financial crisis outperformed the market average by more than 30% and delivered accelerated growth for the following three to five years, according to research from McKinsey.