A view is emerging that innovation is no longer the driver of growth it once was. Pundits point to declining growth in global productivity as further proof that “The Big Idea” is a thing of the past.
Our view, based on analysis of past IBM Global CEO studies, as well as practical, hands-on experience, is that innovation is far from dead. It is, instead, thriving among those outperforming companies that apply product, operational and business model innovation to truly differentiate themselves from their competition. The ability to generate, control and exploit innovation can become a major source of strategic advantage and economic benefit, as demonstrated by the growth in value of those companies deemed “most innovative.”
The IBM Institute for Business Value executive report, “Insatiable Innovation: From sporadic to systemic,” focuses on the evolving role of innovation and its impact in today’s complex business environment. Specifically, the report identifies what financially outperforming organizations are doing differently to foster innovation:
Finally, the report outlines the steps necessary to develop a systematic innovation approach to more effectively drive growth, efficiency and financial outperformance.
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