Innovation in Innovation
The Future of Product/Service Design
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We are witnessing a shift in the traditional ‘innovation’ model – in so far as any single model could be said to have existed. This is to be welcomed, since various studies show a failure rate for innovation of between 40 and 90 percent. In fact, half of all businesses admit they are only ‘marginally effective,’ at converting R&D spending into actual products. Not only is product centric innovation generally ineffective, it ignores two important issues driving change – the rising servicization of products and the primacy of the consumer experience.