How organizations can stop their best ideas from falling through the cracks
Our new innovation survey has found many organizations are struggling with innovation – losing out financially and forgoing opportunities in future competitiveness and productivity gain.
Two-thirds of life sciences respondents have seen brilliant ideas fail for reasons that could have been avoided. The main cause, as cited by nearly half of respondents, is poor implementation of ideas. In our survey, almost half of healthcare respondents say they are weak on strategic foresight and future planning and thinking and one-third say they do not have the skills they need in customer insight and intelligence.
In our new innovation report, we explore the pitfalls and complications that organizations face – across sectors and geographies – as they strive to think differently and put their new ideas into practice.
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 organization. To achieve this, our research suggests seven recommendations that senior executives should consider to convert innovation investment into profitable return.
The report also covers:
- 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.