Accenture Newsroom: Accenture Study: Innovation Efforts Falling Short Despite Increased Investment

See on Scoop.itData Nerd’s Corner

Despite increased business investment in innovation, only 18 percent of executives believe their company’s innovation efforts deliver a competitive advantage, says Accenture.

Carla Gentry CSPO‘s insight:

The findings reveal that among the main reasons that innovation results fall short are too much “renovation” in place of breakthrough ideas, and too much “invention” against the challenge of commercializing at scale. Sixty-four percent of respondents said they are focused on product line extensions rather than big ideas. The proportion of executives who were likely to identify the introduction of a new product category as a primary goal for innovation fell to just 27 percent from 42 percent in the 2009 study. Further, 33 percent said their primary goal was the expansion of the product suites that support their basic offerings.

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