Technological innovation 'creates more business ideas'
23/02/2010
Firms that stress the importance of technology are more likely to create innovative new products, it has been claimed.
The business culture firms aspire to, through governance and compliance measures, can also influence the number of new product ideas emerging from the workforce, according to the University of Illinois research.
It is the firms that emphasise technological innovations, such as those in IT sales and marketing jobs, who are likely to have the most groundbreaking ideas.
The study, which is due to be published in the Journal of Product Innovation Management, also reveals that an emphasis on technology produces more ideas than staying ahead of competitors or meeting customer needs.
However, marketing professor and co-author of the study William Qualls explained that unless innovation and marketing receive equal attention, these ideas may never reach the marketplace.
"Firms need to know how to generate as many new ideas as possible and how to screen them so they have the best chance for success," he added.
Earlier this month, senior manager of new media at PricewaterhouseCoopers Eva Berg-Winters underlined the importance of spreading marketing across different media to take advantage of respective "strengths and weaknesses".
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