There is no lack of great innovative ideas. In fact, most companies have far more ideas than they can ever possibly use. Accenture believes that what sets truly successful companies – the high performers – apart is that they take a systematic approach to innovation. This is what enables them to pick the best ideas, the ones that will work and generate profitable growth, win market share, or even create new high-growth markets.
But how do they do it, again and again? Especially given that the odds are against them, with a mere one in every 1,000 innovative ideas actually proving successful. The key to successful innovation is coming up with the right innovations for the right markets. The best ideas rarely appear out of thin air. The only way to come up with the best innovative ideas – consistently and repeatedly – is to make innovation an essential part of how you do business, of your strategy.