Innovation encourages economic growth

By Susan Niemi

An economic downtown is no reason to stop spending on innovation. An upcoming article in the January 2009 Journal of Marketing says “Radical innovation is an important driver of the growth, success, and wealth of firms and nations.” The authors’ theory suggests that in the current economic environment in major nations across the world, the internal culture of firms may be the most important driver of innovation. They argue that new products using different technologies and providing greater customer benefit will drive new growth. See “Radical innovation in firms across the nations: The preeminence of corporate culture” at www.marketingpower.com.

Susan Niemi is the editorial director at the Industrial Fabrics Association International. She can be reached at +1 651 225 6984, srniemi@ifai.com.