Booz & Company and the Bay Area Council Economic Institute set out to identify the "secret sauce" that makes the San Francisco Bay Area a global innovation leader. Our research found that the region's success stems not just from its institutions or the research budgets of its companies. It comes from a deeply ingrained innovation culture that permeates the business and research community and distinguishes the Bay Area from its competitors.
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| Matthew Le Merle notes the following critical success factors: |
- Organizational alignment
- Culture of customer first
- Deep end-user understanding
Morever, Booz & Co. recommend:
- Have a clear innovation strategy, aligned with customer needs
- Have your technical leads report directly to the CEO
- Develop and communicate your innovation strategy from the top
- Constantly refresh your product development staff and welcome their ideas
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