by Stefan Lindegaard
April 29, 2010 15inno
The 2010 edition of the annual survey by BCG and BusinessWeek is as always an interesting read. I have inserted a few of their overall observations below and hopefully this inspires you to check out the full report.
• Innovation is once again a top priority for most companies
• Companies willingness to spend on innovation, and their satisfaction with the return on innovation spending, are inching higher
• Caution remains in the air, however, and companies are adjusting their strategies and tactics
• Executives consider a risk-averse corporate culture, lengthy product-development time, and inadequate measurement practices to be key areas of weaknesses
• The organizations that top their list of the most innovative companies remain unchallenged – but a longer-term change seems to be under way
On the longer-term change, they refer to the rising prominence of companies in countries such as China, India and Brazil while less than half of the survey respondents believe that U.S. companies will remain the most innovative over the next five years.
It is an interesting read, but one thing did strike me as odd. They look into different types of innovation where they observe a very strong focus on incremental innovation over break-through and radical innovation. However, there is not a single reference to open innovation and the impact this new approach will have in the coming years. I wonder why they missed out on this…