Setting the focus for innovation

Companies need to be innovative to compete and lead in the current environment. It is no longer adequate to compete on price, quality, delivery and service alone. To set itself apart from the competition, a company must innovate. It is proposed that a vital factor in achieving sustained innovation is the presence of a shared and inspiring vision and strategies, which fulfil the company's purpose. This paper discusses the importance of purpose to innovation through the introduction of an innovation model and a series of survey findings conducted by the authors in February 2000.