BUT TOO MANY COMPANIES
ARE FAILING
To convert opportunity into value
Most companies are not seeing a return on investment in innovation
commensurate with the size of investment made. Why is this the case? Despite
their prolic investments, most companies are just tinkering at the edges.
With the continued improvement of advanced technologies, the gap between
what technology makes possible and the ability of companies to internalize it is
only going to grow. The result is a steady supply of “trapped value” – value that
businesses could be releasing and sharing in if only they could change faster
and more fundamentally.
Sixty two percent of respondents claimed most of their spend will be
directed towards incremental innovation. Based on our experience,
such incremental focus is not enough to seize the opportunities
created by new technologies.
57%
Of respondents, who increased their
investments in innovation by more
than 25%, underperformed their
industry peers
TOO MANY COMPANIES SEE ‘INNOVATION’
AS SOMETHING ABSTRACT FROM SOLVING
REAL PROBLEMS AND CREATING REAL
VALUE. AS A RESULT, TOO MUCH TIME AND
INVESTMENT IS SPENT ON EFFORTS AT THE
PERIPHERY THAT HAVE NO LINK TO VALUE
– AND THE OPPORTUNITY TO CREATE
TRUE CHANGE WITHIN THE COMPANIES IS
MISSED, ONCE AGAIN.
ALISON KENNEDY
Senior Managing Director
Accenture Strategy
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8
DISTINCT INNOVATION APPROACH