2013 State of Global Innovation Report Shows a Growing Corporate Focus on Innovation

  2013 State of Global Innovation Report Shows a Growing Corporate Focus on
  Innovation

   Although Innovation Increasingly Led by the C-Suite, Organizations Still
                           Struggle to Show Results

Business Wire

BOSTON -- December 4, 2013

Imaginatik (LSE:IMTK.L), a leading innovation management company providing a
range of consulting and software services for enterprises, today released
results from its 2013 State of Global Innovation Report. Based on a survey of
senior business professionals, the survey results reveal an increasingly clear
picture of the emerging role innovation plays in today’s business world.

The survey, conducted in Spring 2013, shows that companies are focusing on
innovation as a dedicated response to competitive and technology pressures.
Nearly two thirds of companies (63%) reported that innovation has been on the
management agenda for more than two years, and more than half (56%) said that
innovation is already an organization-wide competency being actively managed
at the corporate level.

Furthermore, innovation is increasingly rising onto the C-level agenda. More
than three-quarters (77%) of respondents named the CEO as the partial or
primary driver of innovation initiatives, with sizable numbers also mentioning
the Chief Strategy Officer (53%), Chief Marketing Officer (46%), and Chief
Innovation Officer (42%). The majority of organizations (72%) also cited a
cross-functional executive team as a driver of innovation activities.

Yet despite the newfound enthusiasm, actual progress on implementing
innovation strategies is uneven. More than half of respondents (56%) mention
that innovation strategy is a key unresolved challenge, and more than
three-quarters (81%) say that lackluster follow-through on good ideas is a
major impediment to innovation success. As a consequence, most organizations
have not yet demonstrated clear business results from innovation activities.

“These findings suggest that innovation is emerging as a long-term, strategic
business priority,” said Matt Cooper, CEO at Imaginatik. “However, it will
take time and effort for companies to make headway on delivering consistent
results through innovation. Imaginatik’s goal is to help them accelerate that
process.”

For more information about the 2013 Global State of Innovation report and to
download a copy please visit
http://www.imaginatik.com/landing/2013-innovation-leaders-survey-report.

Survey Methodology
The 2013 State of Global Innovation survey was conducted in the form of an
online survey, and was fielded during the last two weeks of May 2013.
Respondents were asked questions about the nature of innovation at their
firms, including many open-ended questions that allowed for richer commentary
and explanations than more traditional questions. In total, 204 qualified
respondents (mid-senior level managers with a stake in innovation) answered
the survey and their responses were included in the survey findings.
Responding companies represent many industries, particularly weighted toward
industrial manufacturing and professional services.

About Imaginatik
Imaginatik is the world’s first full-service innovation firm with 17 years of
experience building innovation into a sustainable competence at some of the
world’s largest and most respected companies. Through a mix of consulting and
advisory, hands-on innovation projects and program managements, and our
award-winning enterprise software platform, Imaginatik helps clients develop
innovation capability into a permanent competitive advantage. Imaginatik is
the trusted partner of leading organizations including CSC, Ladbrokes, The
World Bank, Cargill, Mayo Clinic, The Chubb Group of Insurance Companies, HCA,
Windsor Foods, Dow Chemical and Goodyear.

Imaginatik is a public company whose shares are traded on the AIM market of
the London Stock Exchange (LSE: Imaginatik.L) and is a World Economic Forum
Technology Pioneer with offices in Boston, MA, and Fareham, UK. For more
information visit www.imaginatik.com.

Contact:

Scratch Media + Marketing
Lora Kratchounova
Lora@scratchmm.com
or
Imaginatik plc
Bryan Mahoney, 617-960-4713
bryan.mahoney@imaginatik.com
 
Press spacebar to pause and continue. Press esc to stop.