Data has consistently shown that innovation leads to long-term business growth, quicker penetration of new markets and that all-important edge to compete in a digital economy. However, a recent study has revealed that board members globally do not rank innovation as a priority in their strategic challenges.
From Samsung and Hewlett Packard to Lego and even NASA, larger companies are taking a leaf out of small firms’ books by embracing the power of human-driven innovation. Rather than traditional R&D, they have started to recognise the potential of more inclusive operating models.
The entrepreneurs at Silicon Valley have long recognised that the process of failing quickly to learn quickly is a stepping stone to success, thus creating a culture of “failing forward”. In the fast-paced startup world, failure is a critical part of workplace culture, in the belief that failing fast means innovating faster.
One of the biggest challenges facing businesses looking to compete in a digital environment is lack of experimentation, according to the latest study by MIT SMR and Deloitte. The 2018 Digital Business report found that digitally maturing organisations are more likely to experiment and iterate, something that more established companies struggle with.
The Chief Innovation Officer of IBM Services, North America, Hemang Dave sheds light on how the company has been driving sustained innovation for over a century.
As businesses continue to grow, new technologies and solutions come to the fore, and business innovation proves to be more important than ever, companies are stepping up their hiring rates to fill the growing skills gap. Yet the answer could be in your existing workforce.
Three Chief Innovation Officers tell us what makes this recent role so important to the success of every business and why companies should be hiring people just like them.
The Chief Innovation Officer is more important than ever for the success of companies, with demand expected to rise further in the coming years. We look at the definition of the CIO, and why they are the key player in business innovation management today.
Human experience and end-user insights are the most valuable tools for business innovation, according to the Innovation Benchmark Report conducted by PwC, which surveyed more than 1,200 companies in 44 countries.