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- Finding #1: In a Fast Moving, Rapidly Changing World, Innovation is the Most Sustainable Source of Competitive Advantage
We asked over one thousand business executives if they agreed with this statement (above). The industries they represented were across the board, and all levels of middle and upper management. Nearly universally, people affirmed this statement, and stated that innovation was their highest corporate priorities.
- Implications
- Everyone seems to have their eyes on innovation. Every company talks about innovation. Yet there is a great gap between awareness and action.
- Despite all the talk, customers simply do not demand innovation streams from their suppliers, focusing instead on slashing costs. Most companies do not understand they cannot cost-cut their way to prosperity.
- Most Importantly, Innovation is considered Important, but NOT URGENT, therefore innovation is postponed, not supported, and not given critical resources, program management, and executive sponsorship.
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