According to a recent PWC study among 1757 executives across the globe there are a number of features of leading innovators.
– They innovate with a purpose
– Have a well-defined innovation strategy
– Concentrate on a greater proportion of breakthrough & radical innovations
– Plan a broader range of business model innovation
– explore a wider range of innovation operating models
– plan to collaborate and
– generate a greater proportion of revenue from new products and services.
In many ways there are no surprises here.
Whist adopting these practices will not guarantee innovation success they should inform a high-level conversation with the leaders of any business or organisation.
The key lesson for me is that innovation should be approached (much like any change program) with some goals in mind, a spirit of openness and adventure and a willingness to work hard.
The most important message is that any innovation activity should flow from the goals and objectives of the business not remain separate to it.