Radical Innovation in the Mature Company

Abstract

Remarks that the importance of innovation is now well recognized in the marketing literature. Argues that radical innovation is still very important to a mature company for the development of new sales. Discusses the details that are important to radical innovation, and proffers an initiative for the development of new business. Analyses the results of empirical studies carried out by UK companies into product innovation. Concludes that organizations should remain sensitive to market demand before embarking on innovation, and that “entrepreneurism” is an important factor, although hard to cultivate in a mature company.