Why was the Enterprise Innovation Institute formed?
Companies can no longer compete in the world marketplace just by becoming more productive – reducing costs and boosting efficiency. The 2005 Georgia Manufacturing Survey found that manufacturers choosing to compete by developing innovative products and processes report significantly higher returns on sales, pay better wages and have less to fear from outsourcing than do manufacturers that seek other competitive advantages. Application of innovation will be the key to competitiveness – and success – in the future. Similarly, communities and governments must also adjust their competitive strategies.
