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I personally have met with executives from more than a thousand companies to talk about their organizations' emerging technologies, market perceptions, and, of course, product development plans. With more than a thousand firsthand experiences, it's hard not to spot emerging trends unless you are truly asleep at the wheel. The biggest single trend we've observed is the growing acknowledgment of innovation as a centerpiece of corporate strategies and initiatives. What's more, we've noticed that the more senior the executives, the more likely they are to frame their companies' needs in the context of innovation.

To those few companies sitting on the innovation fence, business writer Gary Hamel has a dire prediction: "Out there in some garage is an entrepreneur who's forging a bullet with your company's name on it. You've got one option now—to shoot first. You've got to out-innovate the innovators." Today companies seem to have an almost insatiable thirst for knowledge, expertise, methodologies, and work practices around innovation.

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