Innovation Pays
Submitted by Will on Wednesday, 23 November 2005No Comment
“A new study of nearly 650 Georgia manufacturing companies underscores the importance of innovation as a competitive strategy at a time when international outsourcing continues to impact Georgia’s manufacturing community.
Average return on sales for manufacturers competing primarily through low price versus those competing primarily on innovation: 2002 vs. 2005.
The 2005 Georgia Manufacturing Survey shows that companies basing their competitive strategies on the development of innovative products or processes enjoy higher returns on sales, pay better wages and have less to fear from outsourcing than do manufacturers relying on other competitive strategies.”
I originally saw this on BusinessPundit, the business blog I read daily.
