How organisations can stop their best ideas from falling through the cracks
In our survey, 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.
Over 50% 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 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 challenge that organisations face
- Analysis by sector and key findings
- Analysis by country and key findings
- Cross-sector learnings
- Best practice examples from 24 interviews with innovation leaders
- Our top recommendations for addressing the innovation drain