Small Fry Finish Faster
Davids beat Goliaths at turning out new products, says a study by the Product Development & Management Assn. (PDMA). Small companies create products faster (23 months vs. 30) and have more successful products (62% vs. 58%) than big ones. That's good, as innovations are also more important to small companies, accounting for 38% of sales (vs. 27%) and 36% of profits (vs. 24%). But the process is often haphazard, and formal procedures can help identify lemons sooner. For more info, see PDMA's Web site (pdma.org).
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