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OVERVIEW

Re-engineering innovation for the digital age

Although the days of incremental tweaking aren’t entirely over, winning means creating break-through innovation. That calls for organizational structures that are nimble, open to new input from extended ecosystems to drive a higher percentage of breakthroughs. And working in tandem with consumers.

Yet most companies are stuck in “small change” mode. Using outdated methods and expecting innovative results. The very definition of insanity. Now is the time to step off the crazy train. And change the approach to innovation and product development. Or risk being wiped off the competitive map.

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KEY FINDINGS

In the digital world, game-changing innovation is the only currency that counts. Yet a full 80 percent of companies surveyed still use an outdated approach to innovation, namely gated innovation processes (with lean innovation and development) dominated by engineering and R&D. This is good enough for incremental tweaking, but not strong enough to produce real breakthroughs.

Companies should adopt a total solution mindset that creates a specific customer experience driven through an ecosystem of partners. And focus on creating customer experiences and building the ecosystem that supports those experiences.

They also need to change their mindset: from approaching innovation as one person/department’s wheelhouse to seeing it as the secret sauce that’s created when bringing different disciplines together.

RECOMMENDATIONS

What do companies need to do to climb aboard the innovation express?

Innovate around platforms.

Innovate around platforms 

Platforms bring together an extensive innovation network, boosting innovation capabilities. 

Create an “Open Innovation 2.0”

Create an “Open Innovation 2.0”

Going beyond paper-based ideation to capturing the culture and processes from different ecosystems to bring innovation to life.

Move beyond customer relationship management.

Move beyond customer relationship management

Winners will upgrade or build connected customer insight capabilities within their R&D/innovation network.

And they’ll change olds school roles—from leadership on down.

And they’ll change olds school roles—from leadership on down

Boosting innovation requires finding the leadership to orchestrate change in an organization’s way of innovation and developing customer centric solutions.

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