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Editor's note.

Document Cited in Related
Vincent
PositionCover story - Brief article

How can developed markets hope to remain competitive in the face of rising competition from the new economic powerhouses of Asia, Latin America and beyond? By focusing doggedly on innovation and ideas, says Sir Alec Reed, the subject of our cover story this month.

Incentivising employees to create and share ideas is a key part of this process, Sir Alec adds. And he practises what he preaches. The young graduate who came up with Reed Recruitment's highly successful web strategy back in the mid-nineties was rewarded with [pounds sterling] 100, 000. The Reed staffer who comes up with the best idea of 2011 will receive [pounds sterling] 50, 000.

Google, famously, has a different approach: urging its developers to spend 20 per cent of their working lives on personal projects of...

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