In this opening chapter we build the case that innovation is inextricably linked to growth & profit, and is really the only way to achieve and sustain it. We argue that much of the growth in the global Consumer Goods sector comes not from the huge multinationals but the smaller startups and SME’s. We talk about why consumers are attracted to new products, and we explain how innovation drives profitability and ultimately shareholder returns. Everything is referenced back to the software development space in terms of the principles that book is then built on.
- Innovation links empirically to growth, for companies large and small.
- Successful, sustainable innovation can have a positive impact on profitability, which in turn leads to higher investment in innovation, leading to sustained growth.
- Consumers actively seek innovation and are willing to pay a premium when they find it.
- Innovation offers growth potential for employees.
Find out more about Chapter 2