Posted April 18, 2019 in Business Technology & Digital Transformation Strategies
Finding the right approach for effective serial breakthrough innovation has become the holy grail for today’s companies. However, our survey shows that there is still a long way to go before companies’ efforts match their aspirations. Although nearly 90% of companies recognized the importance of defining specific strategic objectives for breakthrough innovation, only about half of them currently do so. Those that do define specific breakthrough objectives and goals are, on average, nearly four times more satisfied with the results than those that do not, and the more explicit the goals are, the higher the success rate. While there is no single formula for success, it is clear that there are some important key factors. In this Advisor, we share some of those key factors as well as four organizational models that have proven effective in different situations.