Last week, GE released the second edition of its Innovation Barometer. This is a very interesting look at how the world’s top CEOs view the global business environment, and innovation’s role in their company’s prospects. The reports contain loads of useful information and the raw data and results can be downloaded here. Let me highlight a few points that I found intriguing:
- It’s no surprise that CEOs view innovation as the key driver of company performance, job creation and economic prosperity.
- But, they think it’s getting tougher to innovate. This is mainly due to market uncertainty, but also due to a perception that government support for innovation was weakening. This perception was most pronounced in Japan, Russia, Poland, and France. It was not deemed a major challenge by US executives. In fact, 76% felt that government support for innovation was efficiently organized.
- CEOs think innovation looks different today when compared to the past. In their view, people’s creativity will assume prececence over scientific research in the development of new innovations.
- A “partnership paradox” exists. 86 percent say outside partnerships are critical in the new innovation models, yet only 21% feel that these partnerships matter for innovation on day-to-day basis.