At its most powerful, innovation is a driver for rapid and profitable revenue growth. But it can also deliver improved competitive positioning, higher customer satisfaction, and decreased costs.
For almost half of the 1,757 executives we interviewed (43%), innovation is a ‘competitive necessity’ for their business. In total 83% agree that innovation is important to the success of their company.
When asked about how important innovation will be to their business in five years’ time, those figures increase to 51% and 88% respectively. So executives are in no doubt that innovation will play an integral role in sustaining the long-term future of their business.