ABSTRACT

Innovation is a central driving force to the survival and growth of firms (Teece, 1987). In a recent survey published by McKinsey (2005), business executives worldwide were asked questions about the most important capability for growth. The most popular answer was: ability to innovate, getting 43 percent of the total answers, all other possibilities remaining under the threshold of 25 percent. In 2004, the same McKinsey survey reported very similar results.