Friday, May 04, 2007

Is innovation overrated?

Innovation builds strong business. I think most would agree with that statement. It's just the old "The early bird catches the worm," which many of us have heard since we were small, recast in professional words.

Most, except perhaps Utz Schäffer and Manuela Stoll, the authors of the study reported by manager magazin in Innovation lohnt sich nur selten (Innovation is only seldom worthwhile). Schäffer and Stoll, of the European Business School, discovered no statistical relationship between a company trying to structure the market in which it operated (innovation) and business success, while 43% of business success could be statistically attributed to adaptation to the market.

While I haven't read it, Stoll appears to have presented her results in Success in Changing Environments.


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