Innovation is increasingly important among businesses aiming to boost market share, expand their geographic footprint and diversify product lines, according to a recent survey by the accounting firm Plante Moran.
Fifteen percent more business leaders, or 94 of 100 queried, listed innovation as a priority compared with the previous year, according to the firm’s 2013 Innovation Survey.
The drivers to innovate, however, are changing. The economy, corporate finances and regulatory requirements were less important incentives in 2013 than in 2012, the survey found. Last year, improving quality and pursuing greater flexibility and capacity were stronger motivators for innovation than in the past