Innovation in firms, a recipe for growth

By EBRD  Press Office
@ebrd

Innovation in firms, a recipe for growth

New episode of the EBRD podcast available for download

The latest episode of the Pocket Economics podcast looks at innovation, the best antidote to stagnation.

How do we define and measure innovation in firms? How can a company become more innovative?

Our guest, Ralph de Haas, EBRD’s Director of Research, helps us shed light on this very important ingredient in any company’s success.

Innovation is not about “reinventing the wheel,” Mr De Haas tells Jonathan Charles, EBRD Managing Director, Communications.

“There are many different types of innovation; it is not only coming up with a completely new product, but also taking the best from what has been developed elsewhere and implementing it in your own firm.”

But why are companies afraid of innovating? Having access to finance and employees with the right skills are only some of the challenges small and medium-sized enterprises typically face.