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Our understanding of Innovation
Innovation is exploiting knowledge to create valuable new products, services, processes or strategies. Read more about innovation in Nuvistix Perspectives, a regular series of bulletins covering subjects relating to innovation and creativity, and keeping a watch on the biological and chemical sciences.
The Nuvistix portfolio of services addresses the drivers, outcomes and key success factors of successful innovation.
Drivers include ...
  • New technologies & global competition
  • Speed of information transfer
  • Knowledgeable & demanding customers
  • Stakeholder influences
Outcomes are ...
  • Economic: greater value, lower costs, productivity, growth
  • Social: employment, health, prosperity
  • Environmental: environmental impact
  • ... and knowledge itself: fuelling continuous innovation
Key success factors involve ...
  • Managing knowledge
  • Managing uncertainty
  • Co-ordinating R&D and marketing
News bulletins
"With the pace of innovation hotting up, any company that fails to replace 10% of its turnover annually, will be likely out of business within five years."
[The Economist, 2003]
Features of innovative firms
[CBI Innovation Survey, 2002]:
  • Future-watch
  • Creative culture
  • Manage & exploit knowledge
  • Market focused
  • Partner
  • Champion innovation
  • Strong R&D & marketing
  • Measure & learn
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