Innovative organisations are marked out by their visionary leadership, licence to explore new ideas, readiness to collaborate and ability to commercialise new ideas quickly.
In our new study, Unleashing the power of innovation, we explore the changing role and nature of innovation in today’s businesses, drawing on responses from a survey of 246 CEOs around the world.
We believe there are five key questions your organisation needs to address if it’s to become genuinely innovative and generate full value from its investment:
- Does the way you innovate (collaboration, employee empowerment, customer engagement, time horizons etc.) reflect your vision and appetite for innovation?
- How effectively are you articulating your vision and appetite for innovation to employees, investors and business partners?
- Do your employees see creating, promoting and executing new ideas as a crucial part of their job description?
- Are the processes for decision making and organisational mobilisation quick enough to bring new innovations to market ahead of your competitors?
- How effectively do you measure and track the return on investment and ability to meet customers’ changing expectations?