Chemanager published today the results of execon´s study on the success factors for return-on-innovation in the chemical industry completed with 26 innovation experts from the chemical industry. In fact, the growth dynamic of many chemical companies is clearly decreased in recent years and companies are even more under pressure to generate new growth through innovation.
The study has shown that the number of companies that measure their return on innovation significantly increased within the last years und most study participants are able to measure at least the sales of new products. Also it has shown that there are several success factors 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.
Read the full article here.