The new economic environment combines hypercompetition, faster product lifecycles and more empowered consumers to change the rules of the game for companies wanting to succeed. To meet these challenges a new paradigm for business is emerging – the age where creativity wins.
As a practice, crowd innovation has been around for more than 200 years. But only in the digital age has it become the hot topic it is now. And it cannot be implemented with a “one size fits all” approach, but needs significant planning.
In today’s world the question of third-party interests is of increasing importance as companies leave their footprint around the globe in different societies. How and to what degree should executives allow for these externalities?
The pharmaceutical industry is suffering. Expiring patents, increasing demands from regulators and decreasing healthcare budgets are putting companies under pressure, and the industry has to walk a narrow tightrope between keeping profitability up and quickly developing attractive medications....