American Machinist

Innovation leads to large profits. (Talking Shop).

GEORGIA MANUFACTURERS competing based on product and process innovations rather than low costs earned higher profits and benefited from higher wages, according to the 2002 Georgia Manufacturing Survey conducted by the Georgia Institute of Technology and Economic Development Institute (EDI) and School of Public Policy. Researchers found that on average, annual wages were $10,000 higher at innovative manufacturing firms and returns on sales were almost a full percentage point higher. The researchers define innovative companies as those developing new products or processes, improving products or processes, or changing organizationally. …

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