Innovation is a culture and it starts at the top
Is innovation broken? Our latest research shows that many organisations are too risk averse to invest boldly in ground-breaking ideas.
Less than six in ten Mexican organisations in our study try to be pioneers in innovation. When they do get a good idea, many waste that good idea – and almost 80% say they have seen a brilliant idea fail for reasons that could have been avoided.
As a result, we estimate that Mexican organisations are flushing billions in innovation investment down the drain each year.
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.