Readings in Innovation

Establishing a Corporate Environment for Stimulating Innovation

K. Larry Hastie

Over the last few years there has been an increasing concern that the United States is losing its position as the world’s technological leader. As foreign companies increase their share of the U.S. and world market, many companies have started to question their own innovative capabilities and wonder what they can do about it.

In most manufacturing companies, technical innovation is one of the most important determinants of a company’s long-term success. It is a process by which someone identifies an idea, translates that idea into a process or product, and modifies that process or product until it is a commercial success in the marketplace. Without new and better ...