These days, every business needs to innovate. While many in the past assumed that they could get by running the same old business the same old way, the fact is that 87% of the companies on the Fortune 500 in 1955 no longer exist. So clearly, today’s firms can’t stand still and must pursue a variety of innovation strategies. Some invest heavily in R&D, others use advanced technologies to improve existing products and others create open innovation partnerships to solve tough problems.
