Communicating & Supporting Innovation Strategies
According to a recent survey of 80 senior executives, nearly half of respondents have an innovation strategy which is clearly defined, measured, and linked to the business strategy. However, 43% communicate that strategy with top management only. Around a third communicate their innovation strategy widely inside the organization and use it as a daily guideline for innovation. Compared to their peers, companies that are very effective at prioritizing and allocating resources to innovation are:
- More likely to have an Innovation strategy is clearly defined, measured and linked to the business strategy
- Less likely to focus innovation communications only on top management
- More likely to have dedicated innovation resources in departments other than just R&D
- More likely to invest significant resources in engaging current/potential customers in innovation
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