Innovation is essential for growth and to maintain competitive edge, but getting the most out of your innovation effort is no easy task. A close focus on several key areas can help.
More than ever, innovation has become an essential part of business strategy in the chemical industry. In today’s fast-changing markets, companies are challenging themselves to improve their R&D efforts and innovation performance. And for a host of reasons.
Product innovation can open up new markets for producers and enable them to maintain competitiveness in increasingly competitive global markets. It can bring benefits to bottom line financial performance and in improved public perception, by helping the industry play a key role in solving major societal challenges. And it can help stave off pressure on the top line from sluggish growth in major markets around the world – notably Europe and now China...
