How energy and utility companies can stop their best ideas from falling through the cracks
Our new innovation survey has found 63% of senior executives in energy and utilities have seen a brilliant idea fail for reasons that could have been avoided.
In the report you will find that within the sector, resistance to change is strong and, with a few exceptions, entrepreneurialism and creative thinking are in short supply. A lack of innovative talent may explain why 42% of respondents – more than in any other sector – admit their firms are less innovative than their peers.
In our experience, a siloed approach to innovation is unlikely to succeed. To deliver transformational results, innovation has to move beyond the R&D department and become firmly embedded in the culture of the organisation.
To achieve this, our research suggests seven recommendations that senior executives should consider to convert innovation investment into profitable return. .
The report also covers:
- Our view of the innovation challenges that organisations face
- Cross-sector learnings for addressing the innovation drain
- Best practice examples from 24 interviews with innovation leaders
- Analysis by sector and key findings
- Analysis by country and key findings.