Innovation success and the three Ws: Who, where and when?

Abstract

Purpose

The paper aims to review the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

According to the theories of renowned English naturalist Charles Darwin, only the strongest species will survive. His sentiments certainly ring true in today's ultra‐competitive business world, where the ability to constantly innovate product offerings and marketing activities can hold the key to success. Brands and organizations that fail will often be unceremoniously swept aside either by established competition or some new kid on the block. It is a sobering thought that only around 20 percent of all new products go on to make the grade and achieve the level of sales predicted. And findings suggest that this figure holds regardless of product category or market. No wonder so many companies take the easy option of making superficial changes to the tried and trusted as a way of minimizing the obvious risks involved. However, simply adding new flavors or varieties is all well and good but such an approach clearly has limited currency in the longer term.

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Citation

(2008), "Innovation success and the three Ws: Who, where and when?", Strategic Direction, Vol. 24 No. 5, pp. 10-13. https://doi.org/10.1108/02580540810867871