Innovation as Growth Strategy
Turning to Collaboration
- New Web 2.0 technologies: A total of 79 percent of respondents said that the use of IT innovation tools assisted in collaboration with external parties. The study found that many manufacturing companies are leading the way in using these new technologies, including social networking sites and virtual worlds, such as Second Life, to drive innovation.
- Targeted outsourcing: The study reveals that companies are increasingly looking externally for help, with 50 percent of respondents leveraging external experts to fuel the innovation process.
- Supplier integration: Suppliers are also helping to drive innovation. Most companies surveyed said they were effectively carrying out a range of supplier collaboration activities, including the use of information systems (89 percent), open-innovation environments (80 percent) and involvement in the innovation process (79 percent).
- Customer satisfaction: While some progress has been made here, manufacturers could do a better job of bringing customer feedback into the innovation process. While 77 percent of respondents believed that their engagement with customers was positive, almost half of respondents said that less than 20 percent of new products originated from ideas generated or shaped by customers.
- Innovation Leadership — How to Reignite Innovation in Your Organization