Transforming tomorrow’s workspaces: how businesses are adapting to virtual working
UK

Issue 2

Source: Realtimes
From: UK

Building upon Arthur D Little’s latest Global Innovation Excellence Survey, the article challenges businesses to consider “how well are you innovating”? With results from the survey showing that top quartile innovation performers can get up to 13% more profit from new products and services than average performers, and with the news that they can also shorten their time to break even by 30%, the article offers five ways to ‘crank your innovation engine’. Above all, the article asks companies to see innovation as a process that can be managed and monitored, rather than resulting from ideas that occur as a kind of ‘mystical gift’. Moreover, if innovation is treated like a science, as evidenced in the five steps, rather than an art, it can produce significantly improved results. As Arthur D Little’s survey highlights, there is a huge amount of innovation waiting to be unlocked. If management starts to believe in its organization’s innovation capability and a culture of ‘nimble innovation’ is formalized, then this potential can be realised.