Accelerated innovation: : The new challenge from China

Chinese companies are opening up a new front in global competition. It centers on what the authors call accelerated innovation - that is, reengineering research and development and innovation processes to make new product development dramatically faster and less costly. The new emphasis is unlikely to generate stunning technological breakthroughs, but it allows Chinese competitors to reduce the time it takes to bring innovative products and services to mainstream markets. It also represents a different way of deploying Chinese cost and volume advantages in global competition.