North American and European Executives Say Business Strategy Depends Largely on Innovation,Yet Corporate Responsibility for Innovation Is Highly Fragmented, Accenture Survey Shows
Frequency of innovation, “speed to market” are key competitive challenges
NEW YORK; April 3, 2008 – Business strategy is driven largely by innovation, but corporate responsibility for the innovation process is highly fragmented, according to findings of a survey published today by Accenture (NYSE: ACN).
The survey of 601 senior executives in the United States, United Kingdom, Germany and Canada found that innovation is a top corporate priority, but it also indicates that more senior-level accountability, greater CEO involvement and improved speed-to-market execution can help companies deliver on their promise of innovation and boost their competitiveness.
While nearly two-thirds (62 percent) of respondents said that their organization’s business strategy is either totally or largely dependent on innovation, only 21 percent of respondents said their companies have a chief innovation executive, and even fewer — 11 percent — said there is a C-suite executive in charge of the process. Nearly half (48 percent) of respondents said that multiple executives are responsible for innovation in their companies.
See full Press Release.
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