How Your Company Can Innovate Better

April 21, 2017 By IdeaConnection

Innovation matters and can propel companies and organizations to new heights.  But taking innovative leaps forward and being responsive to or leading change can be fraught with difficulties.

In its recently published Innovation Matters report, UK-based PA Consulting Group provided four actionable insights to help companies get innovation right.

Although business leaders recognize the need to innovate, the report initially points out that many are not getting the full value from innovation.

Quick Look at Findings

A total of 821 senior executives from around the world were surveyed for the report, and while 66% confirmed that their organizations couldn’t survive without innovation, only 24% are fully confident they have the skills and activities they need to be innovative.

Among the other findings were:

37% said their organization has either made no, or only minimal changes to its innovation approach

50% do not believe their leaders fully display the vision and passion need to make innovation happen

How to Innovate Better

Drawing on its research, PA Consulting developed its four steps to help companies innovate better.  They are:

Focus on the future: anticipate and analyze the industry and technology changes, and decide how you need to innovate

Design innovation into your organization: create a customized framework for the type of innovation you need to succeed

Create an innovation culture: change the way people lead, work and are rewarded

Build a network for innovation: use your ecosystem as a catalyst for innovation.

Get the Full Report

For more information about the report’s findings and information on how to put the steps into action, click here.

Share on      
Next Post »

Add your Comment

[LOGIN FIRST] if you're already a member.

fields are required.

Note: Your name will appear at the bottom of your comment.