Innovation rises up the CEO agendaFollow @PwC_LLP
It’s no big surprise that 97% of CEOs say innovation is becoming one of the key levers for growth. What’s surprising is that almost two thirds of the 246 CEOs we surveyed in our Pulse Survey on Innovation said they see innovation as equally important as operational effectiveness. And 10% said it was the top priority. This marks a massive shift in emphasis since the earlier innovation survey we carried out in 2009.
And companies have been innovating the way they innovate. The strategic focus for innovation is broadening and changing. It’s no longer just about innovating products. Now CEOs are innovating across a much wider spectrum including customer experience, technology, business models, processes, and products.
The other striking fact in our new report, Unleashing the power of innovation, is that CEOs have taken a hands-on approach to drive innovation within the organisation. CEOs now believe that successful innovation requires their strong visionary leadership, and they’re stepping up to that challenge.
All of that is good news. But what remains to be seen is whether organisations are ready and able to act on their CEO’s innovation aspirations!
Rob Shelton is PwC’s global leader for innovation strategy. He specialises in integrating breakthrough and incremental innovation—new business models and new technologies—into an organisation's strategy and operations to drive profitable growth.