Innovating to grow
Six major innovations account for 32% of global growth over the past decade. They account for 70% in Europe.
Innovation is obviously a critical driver of global growth (along with demographics), and even the only one in mature countries. The mere improvement in productivity through cost reductions enables an economy to grow in volume, but not in value.
The same phenomenon occurs with every business which grows in the long term. The number of products, services, business models which did not exist five years ago can represent 50% to 100% of revenue at any time.
There is no long-term growth without disruptive innovation.
How to innovate to grow?