Study analyses success factors for return-on-innovation in the chemical industry
The growth dynamic of many chemical companies is clearly decreased in recent years. Companies are even more under pressure to generate new growth through innovation.
In this context, an innovation study on success with 26 representatives of leading chemical companies was conducted by execon partners to improve the return on innovation (ROI). First finding of the study is that the number of companies that measure the innovation outcome significantly increased within the last years und most study participants are able to measure at least the sales of new products.
There is not one specific key success factor to improve innovation, therefore a number of parameters need to be considered. The article discusses differences in success rates between incremental and disruptive innovation, project termination rates, organizational models like corporate venturing as well as the influence of project sizes and innovation Budget.
The full article can be read at the following link