Purpose – Reviews the latest management developments across the globe and pinpoints practical implications from cutting-edge research and case studies.
Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context
Findings – Banks collapsing and being shored up by public money; sky-rocketing higher education costs; wars and rumors of war; environmental disasters and humanitarian crises: at no other time since the industrial revolution has the future seemed so uncertain. The settled post war decades of continual economic growth, jobs for life, a degree providing a ticket to well paid employment, and a generous pension to look forward to have disappeared, seemingly for good. What does this mean for companies trying to develop and market industrial products and consumer goods? The simple answer is innovation. To compete in such an uncertain political and economic climate, companies must develop strategies for effective innovation. Research and Development (R&D) departments will need to prioritize creative thinking and may want to explore new ways of working such as inviting product users to be involved in production planning or external collaboration with other firms doing similar work. Preparing employees capable of taking up the challenge of innovation will also involve higher education establishments who must desist from viewing students as empty vessels to be filled, but rather create sustainable educational programs which provide students with the skills they will need for the business world of today and tomorrow. The role of government and other policy makes is also an essential component in the creation of a political and social environment that supports innovation by promoting new routes to collaborative practice
Practical implications – Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.
Originality/value – Provides an easily accessible summary of relevant business concepts and presents them in a fresh way