It is frequently heard that in five years’ time, 50% of a company’s turnover will be realised through products that do not yet exist. Innovation is clearly a source of competitive advantage and profitability.
The challenges to be taken up
• Anticipating and creating breakthrough. Beyond the incremental improvements, only breakthrough innovation allows economic models to be changed and guarantees sustained growth
• Widening the field of innovation, beyond the product, to processes, services and organisation
• Raise the behavioural barriers by encouraging risk-taking, to foster a "shaper" approach.
• All innovation strategies must be rooted in a shared vision of the know-how and of the company's future
• In order to address breakthroughs as opportunities, there is a need to set up mechanisms and encourage behaviours so that breakthroughs can be anticipated
• Trust reduces fear and frees up imaginative energy as well as individual and collective creativity, thus fostering a spirit of innovation
• It is essential for management to analyse the failures inherent to innovation as well, in order to create as many opportunities for a new start