Study Finds Lack of Effective Decision-Making to Manage Innovation
Capgemini Consulting and the IESE Business School recently released their annual global Innovation Leadership Study examining innovation management strategies at organizations around the world.
The study, based on a survey of 260 innovation executives around the world, reveals that while innovation leadership is becoming increasingly important, the majority of companies (58 percent) still do not have an explicit innovation strategy in place, with most companies considered ‘innovation laggards’ (38 percent) and just 7 percent classed as ‘innovation leaders’.
Survey participants cited the top elements of an innovation culture as:
- Openness (to others’ ideas, to change, to exchange)
- Innovation considered a core value to the company
- Sharing of information, ideas and results
- Pushing ideas forward; Facilitating and guiding ideas
- Acting quickly to capture opportunities
39 percent of respondents referenced the lack of an effective decision making process for innovation.
Key to informing product development decision-making is the ability to leverage internal and external knowledge and collaborate to solve problems and generate solutions.
Access the Innovation Leadership Study .