Using the same analysis method described in an earlier blog, the results seem very clear:
The findings for the sample of 120 tier 1 companies:
- 20% have stronger then the average Innovation Intensity and their Innovation Intensity has grown, typically 30-35% since 2004/05 - The Innovation Champions
- 21% have stronger then the average Innovation Intensity but their Innovation Intensity has fallen, typically 20-25% since 2004/05 - The Innovation Deniers
- 16% have weaker then the average Innovation Intensity but their Innovation Intensity has grown, typically 30-35% since 2004/05 - The Innovation Aspirants
- 44% have weaker then the average Innovation Intensity and their Innovation Intensity has fallen, typically 40-45% since 2004/05 - The Innovation Chumps
The conclusion:
- most companies appear to be generating significantly less innovation compared with 5 years ago.
And who have been Innovation Champions and the Innovation Chumps over the past 5 years? Well from my sample of tier 1 businesses the list is (full details will be available from my website):
The Innovation Champions:
The Innovation Deniers:
The Innovation Aspirants:
The critical question from this analysis is why. Why has Innovation Intensity declined? Is it all down to the GFC? Challenging times are expected (in some people at least) to inspire entrepreneurship and innovation , however that fighting response may not be what we see from established businesses.
I’m interested in feedback and views to help achieve better product development.
