10 key insights that will help you gain more business impact from your innovation. Gained from research recently conducted by Bluegreen Learning.

1. 10 key insights on iinnovatiion
for positive business impact
01
Innovation is
for future success It will increase in strategic importance: 42% of companies
see it as crucial to them now but 90% of companies we
talked to said it would be crucial in 5 years’ time.
0 5 10 15 20
5 years
2 years
Now
vital
90%
02 Companies ideas
do not SUPPORT
with sufficient resource 54% rated themselves as not effective in this area.
In fact, it was the lowest-rated skill. SMEs are better at it
than corporates: nearly 80% of corporates say they
are not very good at providing sufficient resources;
only half as many SMEs said the same.
54%
80%
of corporates not
very good at
resourcing
03 Knowing LOTS
about your business
isdouble-edged
04 PARTNERIING
will become MORE common
Using internal resources will remain
important, but the biggest change
in the future will be that more
companies will partner with
external organisations as a way
of solving innovation challenges.
rated themselves
as not very
eective
Corporates in particular value their
staff’s in-depth knowledge of the
organisation, but this can also lead to
assumptions and means people are less
likely to notice and respond to market
changes and see the need for innovation.
of companies
said innovation
would be crucial
in 5 years time
05 Organisations are good at
50% of companies rated
themselves very effective
at this. Idea generation is also
the primary area for future
staff development, emphasising
the need for people to maintain
their ability to generate ideas.
60%
50%
40%
30%
20%
10%
06 Companies do NOT
ALWAYS SEE
their ideas through
Whilst companies were great at generating ideas and pretty
good at selecting which ones to test, they are much less
effective when it comes to action. Three out of the four skills
that companies rated themselves least effective at were around
implementation or learning from ideas.
skills companies rated
themselves least
eective at…
There’s not enough consistent
senior support
to make things happen
07 Only 29% of organisations
thought they had very effective
senior support. And, since
nearly 85% of organisations saw
this as crucial or very important
for their future success, getting
it right is vital.
in the future
14
12
10
8
6
4
2
It will become more important to
balance
the day job with work on innovation
Companies will find it difficult to progress and implement new
ideas unless they can find ways of combining people’s everyday
work with making valuable contributions to innovation.
08
Internal Teams
Department
External Consultants
Partners
Buy in
Don’t need to change
Need to change but don’t know how
generatiing
ideas
0%
Sharing
ideas
more
widely
Learning
from pilot
ideas
Providing
senior
support
Supporting
ideas with
resource
Creating
business
case
Selecting
ideas to
test
Linking
ideas to
strategy
Generating
ideas
innovation
must bring demonstrable value
to customers and internal staff
To justify time and energy spent on innovation,
the benefits for the company and customers need
to be clear. And for that value to be demonstrated,
organisations need to be able to take ideas
beyond concept and pilot to implementation.
09
0
Not at all
important
Somewhat
important
Very Important
important
Crucial
3OUT4
OF
implementation learning
TIME ENERGY IMPLEMENT?
10 Companies need to develop
capabilities
in 3 key areas to meet future innovation challenges
Ideas generation, cross-functional
team working and the leadership
and management of teams
running innovation projects were
the top skills identified
Leadership and management of teams
Ideas generation
Cross-functional teamworking
to diiscuss
these findings and what
they mean for your business
call us on 07811 944782