Reviewing innovation effort: Innovation culture

Abstract

Purpose - The purpose of this paper is to look at two reports that deal with innovation issues. Design/methodology/approach - The article presents an analysis of two reports: one by Arthur D. Little and the other by the National Endowment for Science, Technology and the Arts (NESTA). Findings - The report by Arthur D. Little recommends a renewed focus on fostering an "Innovation Culture" as a practical way for companies to ensure they get value from their innovation effort more quickly, and manage their investment wisely during an economic slowdown. The report by NESTA highlights the need for more companies - especially UK high-technology firms - to develop the capability for total innovation. Originality/value - The article provides senior managers with advice on how to keep their business models sustainable through a potential downturn.