Be deliberate about the way you handle ideas, where you focus, and how you innovate with your customers for validation. Consider this six-step process to bring the best ideas to reality.
Rate your digital maturity against 7 eye-opening stats
What kind of time, money, teams, and talent do you need to succeed with digital transformation? New Deloitte research shares tactics from organizations far down the road to digital maturity
5. 86 percent of respondents from digitally maturing companies say that 10 percent or more of their time involves the opportunity to experiment or innovate.
In contrast, more than 40 percent of early-stage respondents report that less than 10 percent of their time, or no time at all, involves experimenting or innovating.
6. 73 percent of respondents in digitally mature companies said their leadership cultivates an environment in which cross-functional teams can succeed.
That compares to around half (48 percent) of those at the mid-level state of maturity and 29 percent of early-stage companies. The more digitally mature companies were more likely to afford their cross-functional teams with autonomy in achieving goals and evaluate their performance as units. Effective cross-functional teams can deliver many benefits – the top one cited by survey respondents being enhanced access to resources, such as diverse perspectives, broader skill sets, and new ideas.
7. Three-quarters of respondents who say innovation is a strength of their organization believe their organizations will be in a stronger or much stronger position due to digital trends in 10 to 20 years.
Just over a third (34 percent) of those who say innovation is not a strength believe their organization will be in a better position, and 10 percent of them went so far as to say their organization won’t even exist in 10 to 20 years. “We’ve observed in our interviews with executives and survey analysis, a company’s ability to innovate ties to employee confidence in the organization’s future,” says Palmer.
[ Want to explore this topic further? Get the free eBook, Organize for Innovation, by Jim Whitehurst. ]