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Innovation - Hay Group

Innovation: the hidden source of value?
by

Linda Woodcraft

on 26 September 2013

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Transcript of Innovation - Hay Group

Innovation: the hidden source of value?
For the last 5 years, your organization has coped with low-to-no growth. Are you too lean to succeed? Are you equipped to create value from growth?

Hay Group research suggests a significant source of growth will come from innovation.
Enablers: the innovation triangle
Hay Group research suggests
a significant source of growth
will come from innovation: new products, new services, new approaches.
Organizing for short-term, not long-term efficacy
Searching for the blockbuster
Hobby inventors
Internal lack of connections
External lack of connections
http://www.haygroup.com/ww/challenges/index.aspx?id=97
Innovation: the hidden source of value?
After the last downturn, 50% of growth came from
innovation
- The Economist
"Where's the new iPod?"
Many think innovation has
to be big and sexy -
not true
Hay Group research suggests
external collaboration is
emerging as a source of
value creation - do you have
the right partnership
capabilities?
The blockers to
successful innovation


Openness


Time
Flexibility
Freedom
The conditions that
encourage innovation
are actually the ones
that can kill efficiency
Clever or creative people
aren't necessarily the best
at creating value from it.
They need to be supported.

Many miss opportunities
because the idea falls in
the 'white space' on the
organization chart
Leadership
Culture
Structure and
process
Full transcript