The Wall Street Journal recently wrote a piece about their recent studies on innovation, and looked at the different approaches companies take to improving innovation in their companies. They looked at four specific ways companies can improve their innovation: recruiting and cultivating human capital, spending on internal research and development, engaging in strategic alliances, and acquiring technology ventures. They found that hiring innovative minds was the best road to innovation, as companies better retained control over intellectual property and also produced a steady flow of future innovations. For more on the best ways to innovate, read the Wall Street Journal article here.
Innovation: Not a "one size fits all" strategy