Profit from the Source

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Dream Big Together

Achieve Breakthrough Innovations by Pooling R&D Resources with Your Suppliers

Innovation drives change, boosts productivity, and sparks growth. But companies are finding it harder and harder to develop game-changing new technologies. In the United States, the telltale sign of this is the decelerating rate of productivity growth, which has historically been generated by innovation. From 1948 to 1973, output per hour grew at an average rate of 3.3 percent per year. Over the next twenty years, it slowed to 1.6 percent. There was a brief acceleration from 1995 to 2004, when it bounced back to 3.2 percent. But the following eleven-year period—which was marked by the global financial crisis—saw the growth rate drop to 1.2 percent. ...