Are You an Innovation Sucker or Winner?

With the recent global economic troubles companies are watching what they spend their time and money on in an attempt to balance the budget and sustain business. With innovation being one of the hardest things for a company to quantify in dollars against the bottom line, it may be one of the first things that they cut from the budget. Having a strong innovation process is one way that a company can retain the innovation while having a handle on the cost versus benefit, but most companies don’t know how to accomplish this feat. When you cut out innovation you are really cutting out the future competitive advantage in a feeble attempt to stay afloat in the present; without regard for the future position of the company.