More big bets bolder innovation 15 03 17
The latest Innovation Leaders research shows that there is an increasingly number of high-growth companies that are prepared to take greater risk and make big bets. Rather than focus just on incremental growth, they are being bolder and are seeking to develop more radical innovation opportunities. Despite requiring significant investment and offering no guarantee of success this approach has been transformational for some. Where and why is this happening and what has changed that has made this approach more common? Ahead of a speech in Toronto next week, this presentation and the accompanying commentary (https://www.linkedin.com/pulse/more-big-bets-bolder-innovation-tim-jones) explores the state of play, highlights the major trends and leaders and identifies the three key activities that are helping companies be bolder at innovation. For more information @innovationldrs https://www.slideshare.net/innovationleaders www.growthagenda.com
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More big bets bolder innovation 15 03 17
- 2. WWW.INNOVATIONLEADERS.ORG More companies are making bigger innova7on bets § The Innova7on Leaders research shows an increasingly number of high- growth companies prepared to take greater risk and make big bets. § Rather than focus just on incremental growth, they are being bolder and are seeking to develop more radical innova7on opportuni7es. § Despite requiring significant investment and offering no guarantee of success this approach has been transforma7onal for some. § Where and why is this happening and what has changed that has made this approach more common? hSps://www.linkedin.com/pulse/more-big-bets-bolder-innova7on-7m-jones
- 4. WWW.INNOVATIONLEADERS.ORG We can see more companies being bolder in their growth ambi7ons and taking more radical moves to achieve these Major organisa7ons are increasingly prepared to place intelligent big bets for four key reasons. 1. They have a desire to replicate the successes being achieved by others; 2. They want to mi7gate the threats of disrup7on from fast-growing unicorn start-ups; 3. The corporate appe7tes to risk is changing; and 4. More business leaders are willing to be bolder.
- 6. WWW.INNOVATIONLEADERS.ORG Some Major Bets § IBM: Cogni7ve intelligence and machine learning § Microso6: Bots and conversa7on plaZorms § Cisco: Smart ci7es, the Internet of Everything and cyber-security Leaders have achieved major share-price growth. Others want similar results and are also adop7ng bolder growth ambi7ons
- 8. WWW.INNOVATIONLEADERS.ORG For some sectors the threat of disrup7on is becoming more evident and accelera7ng – proac7ve ac7on is widening § Aiming for 500m room nights per year within 5 years, 1bn by 2025 § MarrioS, Hilton, IHG and Accor have just over 3m hotel rooms in total § New op7ons for genera7ng significant growth on every agenda § ‘uberisa7on’ is now an established way of describing new compe77on § Several companies have started their own more radical business models
- 10. WWW.INNOVATIONLEADERS.ORG Given the successes and the associated growth in shareholder value, market sen7ment to more radical innova7on is changing § Investors increasingly expect the significant R&D investments being made in major organisa7ons to deliver higher levels of double-digit growth § In areas of the investment community, risk is being more widely accepted § 35% of the companies have radical innova7on on their board agenda § Double digit growth is not just for unicorns and start-ups