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The pace of innovation is more important

Pace of Innovation

Pace of Innovation

When everybody is talking about innovation, where most people relate innovation to their achievements and perspective. It is as important as to keep up the pace of innovation within the organization and community.

The pace of innovation is more important – Warren Buffett

What others are saying:

World Bank :

Is the declining pace of innovation lowering productivity & growth?

Robert ‘Bob’ Gordon, an economics professor at Northwestern University, evaluated that days of great inventions are over which has led to a significant slowdown in total factor productivity – a measure that economists use to measure innovation and technical progress. Falling productivity is one of the main reasons for growth shortfall in advanced economies like the United States.

Accelerated innovation in the travel industry:

Innovation and change have always been driving factors in the evolution of travel, but now it’s happening at a much more accelerated pace.

pace of innovationWhat generations is thinking about the pace of innovation in the UK?

Brian Dorchester EVP of Operations at First American Payment system mentioned pace in innovation has accelerated in last 5 years which is opening up new business opportunities and thus needs robust security solutions, especially, in FinTech industries where security matters the most.

How might changes in federal policies boost innovation and productivity? Congressional Budget Office

Even the government policies are realizing the needs of the pace of innovation where continuous improvements are needed in order to boost Economic productivity and innovation.

The Rising Need for Innovation Speed [BCG]

Increasing speed to market leads to numerous financial and nonfinancial benefits where financial benefits are often directly measurable and vastly exceed the up-front costs of introducing speed-to-market approaches to the organization

Benefits :

  • Faster Innovation
  • Lower development cost
  • Larger Market Share
  • Greater forecasting Accuracy

The pace of innovation is more important

Conclusion:

Size can give you scale, but for innovation, speed is more critical -Rakesh Kapoor, CEO of Reckitt Benckiser

As everyone is talking, the pace of innovation is growing and certainly in the current scenario of endless possibilities and opportunities, one needs to constantly innovate and update themselves along with the pace of changes in innovation.

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Categories: dResearch

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