Team effort

Purpose – This article aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies. Design/methodology/approach – The briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – Conventional wisdom has it that firms make products and consumers are passive recipients of their toils. W. Edwards Deming echoed these sentiments when insisting that the producer and not the customer is responsible for innovation. But times have changed since the late US scientist made this claim. Innovation is no longer considered down to company efforts alone. A growing number of people now recognize the important contribution certain consumers can make. Innovation is a costly business at the best of times. Testing does not come cheap and demands considerable endeavor before any real progress is made. And then there is the uncertainty. Since success can never be guaranteed, many organizations are naturally hesitant because of the sizeable investment involved. Throw in the prevailing economic instability and any anxiety escalates. Practical implications – The article provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.