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506: Everyday practical innovation – with Jerry Fix and Terry Carroll
Global Product Management Talk
Innovation Fuels Success
A significant 84% of executives recognize that their future success hinges on innovation, with the top 10% of companies earning double the revenue from newly introduced products within a year. The Vitality Index, a common metric in product management, assesses new product sales as a percentage of total sales, indicating the effectiveness of innovation strategies. Organizations that prioritize new product development, exemplified by the statistic that 20% of revenue stems from products launched in the past three years, are likely to achieve greater financial success.
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