23 Sep Why Innovate?
“Like short skirts, innovation has traditionally swung into and out of fashion; popular in good times and tossed into the closet in downturns. But as globalisation tears down the geographic boundaries and market barriers that once kept businesses from achieving their potential, a company’s ability to innovate – to tap into the fresh value creating ideas of its employees, partners, customers, suppliers and other parties beyond its own boundaries – is anything but faddish. In fact, innovation has become a core driver of growth, performance and valuation.” So says the McKinsey Quarterly 2008 Number 1 and in Ireland we seem to be wakening up to the fact that creativity, research and innovation are critical to our future prosperity. We now have a Minister responsible for Science, Technology and Innovation, there is a proliferation of innovation seminars, Enterprise Ireland is increasing its funding support and the Government has an Advisory Council for Science, Technology and Innovation. So what is innovation?
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