A new survey by Boston Consulting Group (BCG), highlighted by CIO Insight reveals how organizations are more willing to invest dollars and resources in innovation endeavours.
Since 2005 BCG has been looking at the state of innovation within companies, allowing it to compare results over time. Each year, more than 1,500 senior executives from different industries and regions are surveyed.
Among the key findings of this year’s report are:
The findings highlight a change in the emphasis now being placed on innovation. Previously, companies were content to focus on a few quality products and just periodically update them. While that approach still works for products with long life-cycles, it may not be enough to maintain a firm’s competitiveness. Allied to this is consumer expectation that now demands better and more innovative products to make their lives better.
For more details of the report, click here.