The #1 Strategy to Enhance Profits Next Year: Innovation

A Smartbrief Leadership survey today reported innovation as the #1 strategy to increase profits in 2009.

What strategy will be central to your effort to enhance profits in the new year?
Product and service innovation to increase volume 41.71%
Cost cutting, including work force reduction 24.93%
Organizational consolidation to reduce costs 21.37%
No further changes are contemplated 4.40%
Price increases to bolster margins 4.03%
Price cutting to induce volume 3.56