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Getting Schooled in Innovation

Smart execs now know this is a key to success in today's world. And they're turning to design firms -- yes, design -- to learn the ropes

By Bruce Nussbaum

Allow me to make my one and only New Year's prediction for 2005: The emergence of China and India will force every single major corporation in America, Europe, and Japan to choose one of two competitive strategies. They'll have to attract customers by offering either low-cost, low-value goods and services, or innovate and create new high-cost, high-value products and services.