How to Stand Out as an Innovator
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High Marks
33% of global executives surveyed rated their company's commitment to innovation as very high and 46% said it's growing. Only 5% said their commitment is poor. -
Action Plan
65% said they make innovation part of their enterprise strategy to ensure that these efforts turn ideas into revenue and growth, while 37% said they're developing innovation skills and talents while creating evaluation models. -
Disruptive Qualities
47% said that employees who challenge the status quo and traditional thinking are best positioned to emerge as change agents, while 35% said they look for workers who combine innovation with strategy, processes and solutions. -
Top Technologies for Driving Innovation
Big data analytics: 35%, Collaborative design/development tools: 34%, Internet of everything/connected devices: 30%, Cloud and as-a-service delivery: 28%, Customer co-innovation platforms: 22% -
Improvement Areas, Part I
40% of respondents said innovation is most needed to find new ways to engage with customers and sustain those relationships, while 34% said it's needed to enhance the overall organizational mindset and culture. -
Improvement Areas, Part II
32% said innovation is being sought to keep pace with digital transformation, and 30% are hoping innovation can help increase their organization's willingness to embrace change and new ideas. -
Top Innovation Drivers
CEO-driven cultural commitment: 42%, Reduction of obstacles, siloes and roadblocks: 31%, Better use of customer feedback systems: 29%, Cross-functional collaboration and integration: 29%, Management reception to new ideas: 26% -
Biggest Innovation Obstacles
Self-preservation and concerns about failure: 42%, Management politics, functional competition and siloes of operation: 37%, Limited recognition of innovation as a competitive edge and value builder: 31% -
Engrained Incentives
44% of global execs feel that they should formalize processes for evaluating and rewarding innovation throughout the organization, and 40% endorse the concept of a fast-track 'intrapreneurship' program for top innovation talent in their firm. -
Sore Spot
Nearly half said that business schools and universities do only a moderately good job in producing innovative thinkers and change agents, while 14% said they do a poor job.
Organizations are increasingly committing to innovation and are seeking employees who are willing to challenge the status quo and traditional thinking, according to a recent survey from the Business Performance Innovation (BPI) Network. The accompanying report, "Innovation. The New Competitive Equation," indicates that companies are moving beyond mere lip service, and are making innovation part of their enterprise strategy, while focusing on "change agent" qualities as part of their talent development and performance evaluation efforts. They also view a number of emerging technologies--especially big data analytics, collaborative tools and the Internet of everything--as prime disruption drivers. "The shift toward innovation as a leading success factor for business is increasingly accepted within boardrooms and C-Suites around the world," according to the report. "In today's innovation economy, institutions of all types and sizes are challenged to rethink and redesign the future. To do so, they must embrace innovation-driven business cultures, processes and platforms, break down barriers to change, and empower innovation leaders and thinkers across and beyond corporate boundaries." More than 200 global executives took part in the research.