{"title":"Driving strategic innovation","authors":"Michael K. Allio","doi":"10.1108/sl-03-2021-217","DOIUrl":null,"url":null,"abstract":"Innovation has become an obsession, one regularly deemed by business gurus as “the most important force in our economy,”[1] and leading business executives often proclaim it as a core business strategy. According to a recent McKinsey study, 84 percent of executives think that innovation is important to their growth strategy.[2] And though 56 percent of firms surveyed by KPMG reported that their overall innovation investment would increase from 2019 to 2020, only 43 percent of firms have well-defined processes for innovation in place.[3] And just 6 percent of executives are satisfied with their innovation performance.[4]","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2021-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Strategy and Leadership","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/sl-03-2021-217","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"Business, Management and Accounting","Score":null,"Total":0}
引用次数: 0
Abstract
Innovation has become an obsession, one regularly deemed by business gurus as “the most important force in our economy,”[1] and leading business executives often proclaim it as a core business strategy. According to a recent McKinsey study, 84 percent of executives think that innovation is important to their growth strategy.[2] And though 56 percent of firms surveyed by KPMG reported that their overall innovation investment would increase from 2019 to 2020, only 43 percent of firms have well-defined processes for innovation in place.[3] And just 6 percent of executives are satisfied with their innovation performance.[4]
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