Toke_Reichstein Why do some firms stay ahead while others struggle to keep up? Many people associate innovation with flashy new products and cutting-edge technology, but process innovation—the art of finding faster, cheaper, and more efficient ways to operate—is just as vital. Unfortunately, it’s often overlooked as the less glamorous side of innovation. Our research on UK manufacturers shows that companies investing in R&D, collaborating with suppliers, and operating on a large scale are much more likely to develop process innovations. Interestingly, process and product innovation go hand in hand, creating a self-reinforcing cycle that drives competitive advantage. The real challenge for businesses isn’t just what they make, but how they make it and organise their operations. Embracing process innovation leads to higher productivity, cost efficiency, and long-term competitiveness. This video is based on a study published in Industrial and Corporate Change by TOC Rice Stein and Aman Solter, exploring the sources of process innovation among UK manufacturing firms. Stay tuned and subscribe for more insights on management and economics!
Why do some firms stay ahead while others struggle to keep up? Many people associate innovation with flashy new products and cutting-edge technology, but process innovation—the art of finding faster, cheaper, and more efficient ways to operate—is just as vital. Unfortunately, it’s often overlooked as the less glamorous side of innovation. Our research on UK manufacturers shows that companies investing in R&D, collaborating with suppliers, and operating on a large scale are much more likely to develop process innovations. Interestingly, process and product innovation go hand in hand, creating a self-reinforcing cycle that drives competitive advantage. The real challenge for businesses isn’t just what they make, but how they make it and organise their operations. Embracing process innovation leads to higher productivity, cost efficiency, and long-term competitiveness. This video is based on a study published in Industrial and Corporate Change by TOC Rice Stein and Aman Solter, exploring the sources of process innovation among UK manufacturing firms. Stay tuned and subscribe for more insights on management and economics!
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