DRIVING GROWTH THROUGH ENTERPRISE INNOVATION STRATEGIES IN THE DIGITAL AGE

DRIVING GROWTH THROUGH ENTERPRISE INNOVATION STRATEGIES IN THE DIGITAL AGE

In an age of digital disruption, most big companies talk about the need for innovation. In our experience, however, very few large companies have established successful innovation strategies.

Nowadays, innovation often revolves around digital technologies, and innovative companies are using digital to enter new businesses, offer new products and reach new customers. As Accenture’s Technology Vision 2015 pointed out, these companies are essentially digitizing every employee, process, product and service.

More and more, these companies seek to keep pace with (and eventually surpass) ever greater customer expectations – expectations that have been referred to as bordering the realm of the magical, where companies can anticipate customers’ intentions, provide the most enticing and convenient end- to- end experiences and deliver value-added services in and around their core offering.

93% of enterprise-level executives said they think innovation is critical to their business, but only, 34% said they believe they have a well-defined innovation strategy in place.

52% of corporate employees surveyed said they had pursued what they thought to be an innovative and/or entrepreneurial idea, but only.

20% said they believed that management was supportive of such new ideas.2 Many characteristics – including sheer size, organizational hierarchies, aversion to risk, and the need to report results to shareholders on a quarterly basis – prevent large companies from being successful innovators.

Leave a Reply

Your email address will not be published. Required fields are marked *