With the looming threat of recessionary times ahead and predictions that 70 percent of today’s revenue generating products will be obsolete by 2012, 2008 brings some unwelcome challenges to business. While many companies are hunkering down to weather the storm, global leaders understand that in economically challenging times it is critical to drive the market, instead of being driven down by it. This understanding is stimulating renewed discussion among executives on how to establish a culture that drives sustainable innovation to build value in lean times. Yet, executive commitment to an innovation culture does not necessarily translate into high performance execution of the innovation agenda. Surveys from leading consultancies and analyst firms also confirm that most companies are lacking in leadership or tools to innovate successfully and consistently.
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