The CEO agenda for innovation

Are your innovations creating value—or just novelty?

Do your innovations create value for customers - or just novelty?

Seventy percent of US CEOs are anticipating changes to their innovation capabilities. The definition of innovation has widened to include not only R&D that underpins new technologies, products and services but also business processes and business models. Each aspect of the business is fair game for reinvention, and CEOs are leading innovation on multiple fronts.

For example, some companies are commercializing new technologies on a large scale in fast-growing markets that have “leapfrogged” costly legacy infrastructures; think smart grids and mobile health solutions. Others are leading low-cost innovations for price-conscious consumers overseas and bringing those product and process discoveries back to their home markets.

Quotes

Michael White
Chairman, President and CEO, DIRECTV

"In the US, because it’s such a mature, highly competitive market, we’re working much more on TV Everywhere, product differentiation, mobility, and other initiatives. Whereas in Latin America, having a more affordable product is still a big innovation in and of itself. And we learn from each other. For example, our Brazil business is much better than our US business on customer service and being customer-centric as an organisation, in the way they’ve designed their products and run their business model. The trick is to make sure that both organisations get to see what the other is doing, take the best, and then adapt it."
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The CEO agenda