Every business knows that innovation is the key to growth, but many companies struggle to be innovative when it comes to technology projects. A recent A.T. Kearney study determines where IT innovation is most important, and how business can break through barriers and focus their efforts to find real value.
Increased expectations from customers and financial markets, coupled with the rapid erosion of brand loyalty, means that companies in the services industry have to innovate continuously. However, most service companies lack research and development departments—the traditional backbone of innovation—and, in general, have very little to show in terms of innovation capabilities. But service companies have to be innovative. In this paper, we go behind the scenes to unravel the secrets to providing innovative services. In services, the foundation of successful innovation is a more flexible and iterative approach in which people contribute knowledge based on their capabilities and reputations.
The 2008 meeting of the European Best Innovator Club was held at the Le Méridien Hotel near the Grand’Place in Brussels. For two days, winners of A.T. Kearney’s annual Best Innovator competition met and debated how to leverage innovation strategies to drive profitable growth. Presenters addressed key challenges such as the proper role of innovation leaders, how to use customers’ energy to unleash innovation and the impact of global trends. In breakout sessions, participants discussed ways to anchor innovation strategies, and outlined ideas for fostering breakthrough innovation. The following offers a brief summary of the insights generated by bringing together some of Europe’s leading innovators.
Companies that employ thousands of highly paid engineers in industries from aerospace and defense, high-tech, and automotive to telecommunication and construction can fi nd it challenging to control and improve their engineering performance. But it can be done. A.T. Kearney has transferred the tools used to improve operating asset effectiveness in factories to the world of engineering, with proven results: More companies are reducing waste while safeguarding quality and performance.
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