Metals companies can be great at innovation but it may not be enough in the future. With competition from rival companies and materials ever more intense, fresh innovation will be key.
A disciplined approach to problem-solving, better management of the ‘ideas-to-cash’ process and a special focus on radical breakthroughs can take innovation efforts to the next level. And to make it all happen, executives need to set the right ‘tone from the top’ and press harder to ramp-up the industry’s innovation reputation.
This paper takes a look at how metals companies are delivering innovation and how they can take it to the next level.
We look at why radical and breakthrough innovation needs to go hand in hand with incremental innovation if companies are to meet the challenges of the next decade. And we consider the different paths that can be followed to make innovation happen and the role of senior managers in making sure it gets done.