What do the CEOs and senior executives of Canadian companies know about the innovation and commercialization process that we don’t? This briefing summarizes the information provided by more than 200 of them on how they manage the often challenging innovation process. In particular, it examines how their firms gather new ideas and identify opportunities, how they decide to commit resources to commercialize their innovative ideas—in other words, how they transform them into new value-added products and services.
This briefing identifies the characteristics that distinguish the more innovative firms from the less innovative ones. These include: reaching out for new ideas from researchers and clients; adopting appropriate business processes and practices; balancing formal processes with intuition; engaging clients; and taking a global perspective.
It also offers concrete suggestions as to how both business and government can help themselves and each other to improve our country’s ratio of ideas to number of successful commercializations.