A framework for gauging success in a new marketplace:
Successful companies have been marrying their investments in innovation (both how much and where it’s directed) to a commitment of sustaining core products that underpin sustainable financial performance.
Using this framework has enabled Accenture to create a categorization of industry players based on their pivot intensity, i.e. how quickly they will be able to rotate to the new.
Our research shows that only 31% of companies are utilizing their investment capacity to fuel growth.
We examined the industry through the lenses of financial performance and innovation prowess. Our analysis revealed four key types of businesses in the sector.
Develop a new strategy
Semiconductor businesses that want to lead in the new, will need to develop a strategy to take them to the next phase of innovation and growth.
These are the three strategic imperatives that enable companies to rotate to the new:
1. Transform the core business
An organization must increase efficiency and maximize profits from its core business.
2. Invest for core business growth
Rather than spending all of the new profits on the new business, the company must dedicate a portion to drive incremental growth in the core business.
3. Scale the new business
Invest the balance of investment capital in creating an innovation architecture that enables the business to transition from concept to mass market.
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