Cultivating Business-Led Innovation

An Economist Intelligence Unit research program sponsored by Oracle

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Who does it better, big companies or smaller ones? What line of business is typically the source? How do people react when it doesn't work?

Innovation as a topic gets lots of hype, but how does innovation really happen in today's organizations? Get the facts from a recent Oracle-sponsored study by the Economist Intelligence Unit, "Cultivating Business-Led Innovation."

The study, including results from a survey of 226 global respondents, also features customer, author, and expert interviews on strategies for fostering innovation, along with information about technologies that support innovation and lead to competitive advantage.

Some of the key research findings include:

  • Companies furthest along the innovation path are utilizing customer data and customer participation in their product and service improvements. 54 percent of companies interviewed indicate that they innovate more effectively using customer input.
  • Leading companies make use of technology trends, including cloud computing, big data, social, and mobile, to either foster innovation or improve business processes. 60 percent of companies surveyed are counting on cloud and big data, for example.
  • The IT department is ripe for leveraging. Only half of the respondents recognize the value of IT in innovation, while at the same time they identify IT-driven technologies as necessary for innovation.
  • Many companies have no plan for learning from failed ideas. More than 49 percent of companies interviewed did not have a support system to respond positively to ideas that fail.

To Learn More

Cultivating Business-Led Innovation

Cultivating  Business-Led Innovation

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"Innovation is not something a special team does—it is something that must be ingrained in the mindsets and behaviors of everyone, and for which, ideally, there should be no special process."
—Jean-Marc Frangos, managing director of BT Group, a major UK-based communications services company - Simplify IT, Drive Innovation

Oracle Senior Vice President, Bob Evans identifies 10 insights from the latest Economist Intelligence Unit survey on innovation that can help companies identify, nurture, and generate innovation

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