Companies Investing More in Innovation

 
 
By Dennis McCafferty  |  Posted 10-18-2013 Email
 
 
 
 
 
 
 
 
 
  • Previous
    1-A Growing Interest
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    A Growing Interest

    77% of executives say that innovation and product development ranks as a top priority—if not a top three one.
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    2-All In
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    All In

    70% indicate that organization leadership is committed to innovation, compared to 60% in 2012.
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    3-Multi-Faceted
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    Multi-Faceted

    67% have cross-functional teams working on innovation projects, as opposed to 56% last year.
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    4-A Heightened Awareness
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    A Heightened Awareness

    65% indicate that their organization brings a "deep understanding" of users and the market to innovation projects, compared to 54% last year.
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    5-IT Foundation in Place
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    IT Foundation in Place

    65% say proper infrastructure is made available for these efforts, as opposed to 55% in 2012.
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    6-Human Resources
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    Human Resources

    64% say they staff the right people on these projects, compared to 54% last year.
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    7-An Open Book
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    An Open Book

    63% indicate that related decision-making processes are clear and transparent, as opposed to 53% in 2012.
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    8-Cost Factors
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    Cost Factors

    59% say these projects receive sufficient budgeting and resources, compared to 52% last year.
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    9-External Motivations
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    External Motivations

    56% indicate that incentives and recognition are linked to innovation contributions, compared to 46% in 2012.
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    10-Well Done!
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    Well Done!

    53% say these projects are completed on time, as opposed to 44% a year ago.
 

In recent years, a running theme in many of our slideshow features has been the elevation of CIOs to the role of strategic leaders who help drive innovation, as opposed to being strictly operational managers. And, obviously, a strategic leader commands more clout among the C-Suite. A new survey from Boston Consulting Group brings encouraging news on this front: Organizations are more likely than ever to invest significant budget dollars and resources in innovation efforts. Organizations are also encouraging the use of multi-disciplinary teams—and they're making sure incentive programs recognize inspired individual and team results. All of this bodes very well for CIOs, given that tech advancements serve as the fuel for the innovative fire within a team. The accompanying report from Boston Consulting Group includes a list of the top 50 most innovative companies in the world, a list that's dominated by the biggest players in the IT industry, such as Apple, Google, Microsoft and IBM. More than 1,500 senior executives participated in the research. For more about the survey, click here.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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