Innovation is the lifeblood of companies, especially in the telecommunications and technology sectors, as a means to contribute directly to top line growth, healthy margins, and shareholder value, and will be crucial in bringing 5G to market. And yet in many cases, innovation is stifled or fails even to get off the ground. Why is this?
In our experience, there are basically two factors that drive successful innovation:
culture and process. Culture is associated with hiring the right kind of staff and keeping them motivated and enthused and able to produce. Process enables innovation to flow effectively through the organisation, harnessing team effort, and driving commercially valuable, viable, and feasible products and services to market. Without process, even promising ideas can remain ‘locked in’.
In this Insight, we focus on the process element, examining international good practices and how such can be implemented and embedded, enabling effective innovation at the organisational level.