{"id":19214,"date":"2017-02-21T14:18:41","date_gmt":"2017-02-21T21:18:41","guid":{"rendered":"http:\/\/www.web-strategist.com\/blog\/?p=19214"},"modified":"2023-06-08T10:27:21","modified_gmt":"2023-06-08T17:27:21","slug":"report-the-corporate-innovation-imperative","status":"publish","type":"post","link":"https:\/\/web-strategist.com\/blog\/2017\/02\/21\/report-the-corporate-innovation-imperative\/","title":{"rendered":"Report: The Corporate Innovation Imperative"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Our latest research report is now available, which was focused on how large companies are internally getting ready for the many waves of technology disruption that are here now, and coming.&nbsp;<\/span><span style=\"font-weight: 400;\">Companies need to be ready, with a dedicated innovation program &#8211;not just knee-jerk reacting to each new set of technologies that emerges. We asked a number of companies on how they defined innovation, and heard this common pattern:<\/span><\/p>\n<hr>\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">&#8220;Corporate Innovation Defined: Doing something new that solves customers needs &#8211;even if it may be in conflict with your existing business&#8221; <\/span><\/i><\/p>\n<hr>\n<p>&nbsp;<\/p>\n<p>We&#8217;ve made a high-level partial version available to the public on slideshare, but the full report is limited to our members at Crowd Companies. Over the coming months, we will publish other insights around corporate innovation.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.slideshare.net\/jeremiah_owyang\/the-corporate-innovation-imperative-how-large-companies-avoid-disruption-by-strengthening-their-ecosystem\/1\">Download the report on Slideshare<\/a>&nbsp;(or see embedded below)<\/li>\n<li><a href=\"https:\/\/attendee.gotowebinar.com\/register\/6596886529116993283\">Join me on a Webinar to discuss the findings<\/a><\/li>\n<\/ul>\n<p><iframe loading=\"lazy\" style=\"border: 1px solid #CCC; border-width: 1px; margin-bottom: 5px; max-width: 100%;\" src=\"\/\/www.slideshare.net\/slideshow\/embed_code\/key\/mpi7w7AhI0Mtyz\" width=\"668\" height=\"714\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"> <\/iframe><\/p>\n<div style=\"margin-bottom: 5px;\"><strong> <a title=\"The Corporate Innovation Imperative: How Large Companies Avoid Disruption by Strengthening Their Ecosystem\" href=\"\/\/www.slideshare.net\/jeremiah_owyang\/the-corporate-innovation-imperative-how-large-companies-avoid-disruption-by-strengthening-their-ecosystem\" target=\"_blank\" rel=\"noopener\">The Corporate Innovation Imperative: How Large Companies Avoid Disruption by Strengthening Their Ecosystem<\/a> <\/strong> from <strong><a href=\"\/\/www.slideshare.net\/jeremiah_owyang\" target=\"_blank\" rel=\"noopener\">Jeremiah Owyang<\/a><\/strong><\/div>\n<p>&nbsp;<\/p>\n<p><strong>Report Highlights:<\/strong><\/p>\n<ul>\n<li>The top challenges companies face in corporate innovation include: fostering an internal culture of experimentation and innovation (57%); juggling competing internal agendas and goals (56%); overcoming the middle management &#8220;permafrost&#8221; layer (45%); and moving forward despite deferred commitment and delayed action (33%).<\/li>\n<li>Though 61% of innovation leaders have &#8220;innovation&#8221; in their title, only 4% have the title of &#8220;Chief Innovation Officer.&#8221;<\/li>\n<li>Corporate innovation leaders aren&#8217;t fresh out of college. Rather, they have an average experience of 18.6 years, culminating in the know-how to align minds and departments around change.<\/li>\n<li>There are 10 types of corporate innovation programs that companies pursue: corporate innovation team; innovation center of excellence; intrapreneur program; open innovation; innovation excursion; innovation outpost; technology education; external accelerator partnership; startup investment; and startup acquisition.<\/li>\n<li>The most commonly deployed corporate innovation programs include corporate innovation teams (78.9%); innovation centers of excellence (61.4%); and technology education (54.4%). This shows that companies are first focusing internally on building the right teams, getting governance and processes in place, and educating current and new employees on emerging technologies before spending resources on rolling out external programs or investing in the startup scene.<\/li>\n<li>The most common metric attached to innovation program success is increased revenue (66%), though that can be a fallacy metric if weighed too heavily too soon, before innovation programs have the chance to prove real ROI. Other top measures of success include greater customer satisfaction (54.5%) and faster time to market for new products or improvements (45.1%).<\/li>\n<\/ul>\n<p><strong>Who we Interviewed:<\/strong><br \/>\nIn addition to surveying large companies, we interviewed over 44 leaders at large companies, or at companies that closely partner with them on innovation initiatives.<\/p>\n<ol>\n<li style=\"font-weight: 400;\"><b>500 Startups<\/b><span style=\"font-weight: 400;\"> || Khailee Ng, Managing Partner<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Accenture<\/b><span style=\"font-weight: 400;\"> || Jitendra Kavathekar, Managing Director of Open Innovation <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Achmea<\/b><span style=\"font-weight: 400;\"> || Ilse Harmelink, Marketing Partners and Digital Marketing <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Adobe <\/b><span style=\"font-weight: 400;\">|| Cindy Springsteel, Vice President of Global People Resources Business Partners<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>ADT <\/b><span style=\"font-weight: 400;\">|| Robert Beaver, VP Technology and Innovation<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>AXA<\/b><span style=\"font-weight: 400;\"> || Guillaume Cabrere, CEO AXA Lab in Silicon Valley<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Cisco <\/b><span style=\"font-weight: 400;\">|| Alex Goryachev, Director of Corporate Strategic Innovation Group<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Colgate-Palmolive<\/b><span style=\"font-weight: 400;\"> || Jenny Gomez, Marketing Director of Innovation<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Comcast<\/b><span style=\"font-weight: 400;\"> || Danielle Cohn, Director of Entrepreneurial Engagement<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Electrolux<\/b><span style=\"font-weight: 400;\"> || Heather Hanson, Global Head of Marketing Technology<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>European Institute of Technology <\/b><span style=\"font-weight: 400;\">|| Patrick Consorti, EU-US Industry Partnerships<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Fujitsu <\/b><span style=\"font-weight: 400;\">|| Kevin Krejci, Business Development and Alliance Manager<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Fujitsu<\/b><span style=\"font-weight: 400;\"> || Mohi Ahmed, Senior Director of Open Innovation Program <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Galvanize<\/b><span style=\"font-weight: 400;\"> || Ryan Nadeau, Director of Special Projects<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>GE<\/b><span style=\"font-weight: 400;\"> || Alex Tepper, Managing Director of GE Ventures<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>HP<\/b><span style=\"font-weight: 400;\"> || Vincent Brissot, Head of Channel Marketing and Operations<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Ideation<\/b><span style=\"font-weight: 400;\"> || Charles Lee, Founder and CEO<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Johnson &amp; Johnson<\/b><span style=\"font-weight: 400;\"> || Melinda Richter, Head of JLABS<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Leroy Merlin<\/b><span style=\"font-weight: 400;\"> || Stephanie Hajjar, Head of Innovation and Entrepreneurship <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Mastercard<\/b><span style=\"font-weight: 400;\"> || John Sheldon, SVP, Group Head of Innovation Management<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Nestle<\/b><span style=\"font-weight: 400;\"> || Mark Brodeur, VP Digital Innovation<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Nexxworks<\/b><span style=\"font-weight: 400;\"> || Peter Hinssen, Founder<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Nexxworks<\/b><span style=\"font-weight: 400;\"> || Laurence van Elegem, Marketing and Communications<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Nexxworks<\/b><span style=\"font-weight: 400;\"> || Steven van Belleghem, Founder <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Pilot44 Labs<\/b><span style=\"font-weight: 400;\"> || Andrew Backs, Founder and Chief Innovation Strategist<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>PostNL<\/b><span style=\"font-weight: 400;\"> || Michel Bagli, Team Lead of Growth Strategy<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Protiviti<\/b><span style=\"font-weight: 400;\"> || Jay Thompson, Managing Director<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Protiviti<\/b><span style=\"font-weight: 400;\"> || Steven Massengill, Technology Consultant <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Rocketspace <\/b><span style=\"font-weight: 400;\">|| Canice Wu, Director of Corporate Innovation<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Savvy Millennial<\/b><span style=\"font-weight: 400;\"> || Savannah Peterson, Founder<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Sparks &amp; Honey<\/b><span style=\"font-weight: 400;\"> || Annalie Killian, Director Human Networks<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Stanford University<\/b><span style=\"font-weight: 400;\"> || Reilly P. Brennan, Executive Director of REVS <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Swisscom<\/b><span style=\"font-weight: 400;\"> || Gregory Leproux, Managing Director and VP Business Development<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Swisscom<\/b><span style=\"font-weight: 400;\"> || Stefan Petzov, Principal Architect Swisscom Cloud Lab<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Swiss Post<\/b><span style=\"font-weight: 400;\"> || Lorenz Wyss, Head of Ideation and Idea Management<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Swiss Post<\/b><span style=\"font-weight: 400;\"> || Theirry Golliard, Head of Open Innovation and Venturing<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>TD Ameritrade<\/b><span style=\"font-weight: 400;\"> || Sunayna Tuteja, Lead Digital Strategy, Experience, and Innovation<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>The Intrepreneur Lab<\/b><span style=\"font-weight: 400;\"> || Milan Samani, Founder<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Visa<\/b><span style=\"font-weight: 400;\"> || Shiv Singh, SVP Digital and Marketing Transformation<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Walt Disney Co.<\/b><span style=\"font-weight: 400;\"> || Duncan Wardle, VP Creative Inc. (former)<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>WDHB Strategic Learning<\/b><span style=\"font-weight: 400;\"> || Sam Mueller, COO<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Wells Fargo<\/b><span style=\"font-weight: 400;\"> || Darius Miranda, VP Innovation Group<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Wells Fargo<\/b><span style=\"font-weight: 400;\"> || Nathan Bricklin, SVP Head of R&amp;D Strategy and Experience<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>WL Gore<\/b><span style=\"font-weight: 400;\"> || Linda Elkins, Leader of WL Gore Silicon Valley Innovation Center<\/span><\/li>\n<\/ol>\n<p>We will continue to publish research on disruptive trends, our next report will be on the <a href=\"http:\/\/www.web-strategist.com\/blog\/2016\/12\/19\/call-for-insights-contribute-to-our-next-report-on-the-industry-impacts-of-blockchain\/\">Business Models of Blockchain<\/a>, and more insights from the Corporate Innovation imperative will be shared, be sure to subscribe&nbsp;to this blog.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our latest research report is now available, which was focused on how large companies are internally getting ready for the many waves of technology disruption that are here now, and coming.&nbsp;Companies need to be ready, with a dedicated innovation program &ndash;not just knee-jerk reacting to &hellip; <a href=\"https:\/\/web-strategist.com\/blog\/2017\/02\/21\/report-the-corporate-innovation-imperative\/\" class=\"more-link\"><span>Continue reading<span class=\"screen-reader-text\">Report: The Corporate Innovation Imperative<\/span><\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":22954,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[218],"tags":[],"class_list":["post-19214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-innovation"],"_links":{"self":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts\/19214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/comments?post=19214"}],"version-history":[{"count":0,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts\/19214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/media\/22954"}],"wp:attachment":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/media?parent=19214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/categories?post=19214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/tags?post=19214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}