Innovative Companies 2020: The Serial Innovation Imperative

Successful Serial Innovators Get 3 Things Right

1. They “Walk the Talk”

Innovation success starts with commitment - making innovation a priority and investing decisively behind that ambition.

And boldness - being willing to pursue opportunities beyond your core.

While 60% of companies rank innovation as a top 3 priority, not all walk the talk.

2. They Embrace the Benefits of Scale

Despite the conventional wisdom, larger companies pre-COVID-19 were not statistically disadvantaged on innovation versus smaller rivals.

There are reasons to believe larger companies may now have an edge in developing winning products, services, and business models.

3. They Calibrate Their Innovation Systems for Success

You need a well-tuned system to drive a cycle of perpetual success.

Ensuring that the “machine that makes the machine” embraces best practices and is internally consistent across all dimensions is essential.

Innovation Systems

An effective innovation system takes time and experience to build.

Practice, as well as learning from both successes and failures, is essential.

Our list of ten questions does not replace the need for a more systematic assessment.

From time to time, a company needs to reassess and revalidate all the elements of its innovation system - the “machine that makes the machine” - to ensure that it is delivering maximum value.

Still, in our experience, these questions provide a starting point for innovation leaders to build a case for change, rally other stakeholders and point to the first set of points for action.

Successful serial innovators are made, not born.

Download this paper and explore the capabilities that drive serial innovation success.