We talked with Jenna about innovation as a growth driver.
- Growth through innovation – why is it important? “Technology trends and industry disruptions challenge the business of incumbents. To stay competitive in the world of continuous change, companies are urged to consistently identify new growth opportunities and to develop defensible innovations.”
- What are clients struggling with in the area of innovation? “I often find companies explaining how their efforts in innovation are failing. The most common failures are not, however, related to the lack of creativity. Rather, the failures typically result from managing innovation process as an unsystematic activity without proper underlying structures and tools. Too often as well companies focus only on single type of innovation, typically on product development, which may result in the lowest return on investment and the least competitive edge in the marketplace. By systematically combining different types of innovations, companies are able to develop offers that are difficult to copy, and are capable of generating higher returns.”
- How did you last make an impact in the field? “Recently, I together with our Monitor Deloitte team supported a global company in identifying growth opportunities and capturing innovations for material revenue growth. To leverage the full potential of the client company, a customer driven approach to growth and innovation was applied resulting in different types of innovations across brands and business units as well as beyond the current scope of business activities.”