Focus on Innovation That Generates Revenue

What is innovation? The classic definitions of innovation include

  • “The act of introducing something new: something newly introduced” (The American Heritage Dictionary).

  • “The introduction of something new.” (Merriam-Webster Online).

  • “A new idea, method or device” (Merriam-Webster Online).

  • “The successful exploitation of new ideas” (Department of Trade and Industry, United Kingdom).

  • “Change that creates a new dimension of performance” (Peter Drucker).

One of the major goals of marketing is to drive the business’s strategy into the market. As we reviewed earlier, IBM’s Global CEO Study demonstrates that the pressures to achieve profitable growth have driven a new mandate around innovation. ...

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