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jump! innovation leaders survey 2015

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Summary outputs and thought provoking findings from our first annual innovation leadership survey.
This report details the expectations, drivers and barriers innovation leaders face across Great Britain and Ireland.

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jump! innovation leaders survey 2015

  1. 1. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london InnovationLeadersSurvey 2015 Need a standout visual
  2. 2. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london Hello Welcome to the summary outputs from our first annual innovation leadership survey. In initiating this project we wanted to discover and share the big expectations, drivers and barriers people responsible for leading innovation across Ireland and GB have for 2015. The following charts therefore contain some numbers, take-outs and provocations which we hope you will both enjoy and find useful. Over the years we have seen many companies grapple with the challenge that is innovation and whilst some have, and continue to be, more fluent in the practice than others, the path to successful innovation is rarely evenly paved. We all face similar bumps, walls and challenges; the most successful companies are those which foresee potential barriers and risks, acknowledge them, plan to manage and act to overcome them. It’s not about innovating without fear; it’s innovating with purpose. Whether you’re one of the 41% of companies planning to launch a new product/service this year, or one of the 59% not giving it a go, by reading this we hope you get a sense that your challenges are not unique and that you can compare your approach to innovation and perhaps take some inspiration. Naturally, we’d love to hear any feedback you may have on this work, or builds for next year’s survey. Enjoy the read; it should take you approximately 15 minutes. The jump! team Join us on twitter: @jumpinnovates Linked In: jump! innovation Web: jumpinnovates.com
  3. 3. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london More infojump! Global Paul Kelders, Founder & MD +353 86 3800787 paul@jumpinnovates.com UK Lee Geraghty, Partner & Head of UK +44 7570 707792 lee@jumpinnovates.com Us We are innovationists. We create ideas worth buying for global and local clients from our London and Dublin offices. jump! is one of Europe’s top innovation agencies, partnering with many of the UK and Ireland’s most ambitious companies and brands across a wide range of industries to create people-inspired growth. Suggest This survey is meant to be useful to you. If you’ve any suggestions for next year’s survey or report, please mail us and we’ll do our best to incorporate your build. Let’s get into it. Enjoy. Survey Timing This is our first annual Innovation Leadership Survey and was conducted in November 2014. This intro chart will give you a little background into us and this survey. BuildsLeadership Sample 181 senior innovation decision makers across Ireland (79) and GB (102) covering a broad range of sectors (from FMCG to Government) as well as company sizes. There’s a full sample breakdown in the appendix.
  4. 4. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london Try this outnumber TaskComment Story Here is a learning from a related brand or world to expand the story And here is a provocation for you to ‘try at home’. Reading right. How we’re presenting the data. number Comment Each page has three pie charts summarising the responses to related questions which, when looked at together, point to a brief innovation story. Underneath each is a brief commentary explaining each number. Think about number Comment
  5. 5. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london 89% More Ambition Avoid Innovation Jingoism Imagine you were charged with sourcing 50% of revenue from innovation; what would you do? Answer the following with one-liners and apply to your current goals… Think about: • Risk capital • Culture • Prototyping • Process • Creativity • Teams • Pace • Partnerships • Panic! Priority Boom! 9 in 10 companies surveyed cited innovation as a key priority in their organisation. Apple’s wonderfully titled ‘Project Titan’ – doing something epic in the car sector - demonstrates the ambition and scale most businesses aspire to. Even for them, it takes guts; vision; investment. Rumours are that they’re planning a $75bn move for Tesla. Visual source: boldride.com – worth a look! And trust Apple to design a car without windows… Companies want to feel they’re embarking on a tremendous journey of impending growth. Have you got the ‘back’ to support all this ‘front’? Know your game Companies are gearing up for an innovation fuelled 2015. 24% Target A quarter of business revenue in 2015 will come from innovation activities; up from 21% last year. The continued rise in expectation around innovation’s contribution to business growth will see greater emphasis placed on process planning and management on a macro level as well as increased vision, skills and ambition from individual leaders. More Ambition 52% Invest The percentage of businesses increasing their innovation budgets in 2015 is a reflection of growing confidence in and expectations from, innovation.
  6. 6. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london 25% 49% Use your fear of failure to inspire awesome upfront planning which will then free you up to be as radical, imaginative and innovative as possible, within the clear scope of a well thought through strategy. Identify what your specific challenges are and how they could be overcome; they won’t go away unless they’re managed away. Or innovated away. Fear One in four believe that one of the key issues that holds back their innovation endeavours is an “Intolerance for potential for risk and failure”. That’s deliberately a rather heavily worded question. “Intolerance/Potential”. This suggests a complete lack of permission to try. Commerciality The second most prevalent obstacle at 49% agreeing is Creating ideas with strong commercial potential. Call us to find out what’s first! This, for us, is huge. Ideas without their roots strategy lack a clear job to do and will fail to gain any support or impetus. This is damaging not only to individuals and organisations but also to innovation as a discipline. The Marathon des Sables is a 5 day, 251km race across the Sahara and one of the greatest challenges participants and organisers will ever face. The fear of failure is real. But anyone can do it; if they’re fully prepped. There are clear parallels with, and learnings for, the world of innovation; both require: • Vision; Strategy; Goals • Known, Calculated & Managed Risk • Relentlessness • Achievement Culture • People • Investment • A little insanity Know your challenges and know they must be overcome. Awesome planning; fewer insurmountable challenges The barriers we face are real; but never insurmountable. So long as they’re known. 42% Culture With 4 in 10 claiming a lack of an innovation culture is the biggest barrier to innovation success, there’s much to be done. Looking at the key challenges businesses surveyed encounter, there’s a real need for leadership teams to be more pro-active in creating the right culture and expectations. This will allow and encourage your teams take risks; risks which are clear, acknowledged and shared. Fear Failure
  7. 7. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london 55% 44% Identify all your assumptions about how people interact with your product/service/brand and go out and explore whether or not they’re right. Talk to strangers; eat strange foods in unusual places; open an account with a competitor service; experience their visitor centres; go shopping with a stressed out Mum. Get out from behind the sanctuary of your desk. Anticipate and act. Insight At 55%, Customer understanding was the single most cited factor in advancing a company’s innovation ambitions. This points to a growing demand for customer closeness experiences, tools and resources to help teams get the right customer insight and understanding. (Talk to us about how we can help you do this. Or do it better). Better 44% of leaders see innovation being led from developing their Marketing expertise – getting sharper; more focused and executing brilliantly. The same number see it coming from improving their technical expertise – looking up and down the value chain for opportunities and efficiencies. One of our favourite eateries at the moment and really rocking the Mexican food trend. Check them out if you want to see all three innovation factors in action. Check out their website and watch these “Mexican Food Missionaries” interact with suppliers and customers. Visit with an empty stomach. And a bib. Convention is there to be disrupted; business models need to be reshaped around people’s changing needs. Not just yours. People’s needs change faster than most organisations’ ability to adapt to them. Growth from innovation will be built on everyone better understanding people. 53% Watercooler With 53% of businesses creating new ideas via informal, internal discussions; let’s make sure they’re talking about the right things. Yes we need to be better at doing what we do; more efficient, more skilled. And ‘yes’, we need to present ourselves better to customers. But the real key to unlocking our innovation potential lies in truly engaging with what’s happening outside the doors of our businesses. Get Out
  8. 8. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london 46% 41% Imagine you were only allowed sell to a competitor’s customers. • What new products or services would you develop? • How would you reimagine your existing offerings? • What would L’Oréal do! Organic Almost half of all business leaders surveyed are looking to their existing portfolios for growth. New to world Over 4 in 10 businesses will create new products and services this year. FAST Company’s list of ‘Most Innovative Companies 2015’ contains just one FMCG brand: L’Oréal. • Only 4 European brands: L’Oréal, Eataly, Ikea and Soundcloud made the list • And just 9 Brands established for 10 years for more: Google, Apple, Samsung, L’Oréal, Ikea, Toyota, HBO, Virgin America and Eataly. There’s no point innovating unless you’re truly up for change; something many FMCGs are often weaker at. We must realise that so much of what we do is marketing piracy; we want what is not ours. Yet. So embrace that! Innovation must live across the entire business portfolio. Current and future. 46% Stretch Beyond simple sales drives, 46% of Innovation Leaders are looking to “Develop existing products and services” within the Innovation mandate. Innovation is about doing things differently in order to create growth, be that reimagining how existing products and services interact and develop relationships with people, or, bringing completely new to world brands to life. Get Unréal
  9. 9. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london Rising expectations from innovation will mean seeding and nurturing an environment which values and celebrates purposeful innovation. 5 Summary Pointers from the jump! Innovation Leadership Survey: Make sure you have the resources and plans in place to back-up the increasing demands you’re placing on innovation returns. Great growth will only come from great action. Challenge yourself and your teams to approach innovation with more creativity and provocation. Encourage provocative thinking; embrace the bizarre; be open to mistakes. Venture beyond convention. Be flamboyant and brave. Doing this will inspire others. And yourself. For more on any of this, plus to learn more about how to implement awesome innovation programmes, talk to us. We’d love to help you create ‘Ideas Worth Buying’. Contrary to popular advice; fear failure. Accept that it is a potential outcome but fear it all the same. Imagine everything you have is riding on the success of your innovation pipeline and you must do it anyway. Now work to identify all possible pitfalls and manage your programme risks accordingly. Remember, ‘the plan doesn’t matter, it’s the planning that counts’. And innovate with abandon from this position of strength. People’s needs change faster than most businesses’ ability to adapt to meet them. Be personally responsible for keeping in tune with those changes and bring those learnings into your workstreams.
  10. 10. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london Appendix 1. Survey sample profile for Ireland & then GB
  11. 11. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london 11% 15% 13% 18% 18% 20% Gov & Utilities Retail and wholesale services Finance & Insurance Manufacturing & Construction IT & Telecommunications Services 27% 16% 13% 44% 501 + 101-500 51 - 100 50 or less Company Size Sample Profile: Ireland Industry 8% 14% 20% 58% Connacht/Ulster Munster Rest of Leinster Dublin City Region Company Department or role 38% 29% 15% 9% Marketing & Sales Operations & IT Finance & Legal Corporate Services Own Position 3% 3% 4% 8% 8% 8% 11% 13% 22% 23% Head of R&D/Product Development Head of HR/HR Director Head of Operations/COO Other Head of Innovation Head of Operations/Operations Director Head of Strategic Planning/Strategic Planning… CEO/Managing Director/ Owner Manager Marketing Manager/Director Director/Manager
  12. 12. IdeasWorthBuying © jump!® 2015 the innovationists dublin | london 13% 17% 8% 63% 500 + 101-500 51 - 100 Less than 50 Sample Profile: GB 25% 28% 46% North Midlands South 5% 7% 8% 20% 36% 36% IT & Telecommunications Finance & Insurance Retail and wholesale services Manufacturing & Construction Gov & Utilities Services 28% 25% 25% 15% Corporate Services Marketing & Sales Operations & IT Finance & Legal 1% 3% 4% 5% 6% 6% 7% 9% 25% 35% Head of Strategic Planning/Strategic Planning… Head of R&D/Product Development Head of Innovation Head of Operations/COO Other Head of HR/HR Director Marketing Manager/Director Head of Operations/Operations Director Director/Manager CEO/Managing Director/ Owner Manager Company Size Industry Region Company Department or role Own Position

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