ARTICLE: Innovation: Closing the Implementation Gap - This Accenture survey is one of the most recent in a spate of surveys being done by consultancies on innovation. Amongst the many conclusions reached by this study in this PDF are:
- Innovation is considered key to competitive advantage
- Many good ideas are not transformed into business realities
- Many companies (42 percent) measure innovation on the basis of revenue
- Budgeting for innovation looks beyond R&D
- Three-quarters of companies have some sort of formal process for deciding which ideas to implement
- CEOs identified a lack of implementation resources as a key constraint
- Companies view their customers as the most valuable external source of assistance with innovation
- Companies tend to look outside for help with idea generation rather than for idea implementation
- Companies that excel at implementing innovation tend to have a clear
innovation strategy and a culture that encourages innovation. They typically spend more on R&D, have formal processes to evaluate ideas; measure innovation, and use external resources for both idea generation and implementation.