Bauer Business Focus

Innovation and Training

Guest: Professor Ahearne

Some estimate that 95% of all new products fail. But why? Inventing the latest gadget or developing a new business concept is only the beginning of the process when it comes to innovation. Michael Ahearne, Professor of Marketing and Research Director of the Stephen Stagner Sales Excellence Institute discussed the issue.

“Research shows that most firms consider themselves to be good at developing new products,” Professor Ahearne said. “Where they often fail is in the commercialization process. Instead of focusing available resources on new product development alone, companies should strive to invest in creating a culture of innovation and empowering all employees to know how to sell that innovation.”

“The most successful businesses avoid failure with new product launches by training the entire workforce to think like innovators and salespeople,” he said.

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