“Committed innovators” have the winning hand, the report says, with almost 60% reporting an increased proportion of sales from products and services launched within the past three years, compared to just 30% of “skeptics”.
“Just seven years ago, 70% of businesses worked only with the existing partners in their value chains, either customers or vendors. But in the past five years, more than 75% of the companies we surveyed started drawing on a multiplicity of innovation sources.”
via MIT Sloan
“As we’ve studied old companies that are successfully transforming into digital businesses, we find that they have built upon one very powerful, central business process — ensuring the accuracy and availability of the company’s most important data.”
via MIT Sloan
“Some steps do not cut costs now but prepare companies to thrive later. If headcounts are simply held flat, for instance, as companies grow they will likely see greater profit. The increased capacity can produce a better customer experience, reduce churn, or make it easier to raise prices and thus increase revenues.” Join the Think 2020 Digital Experience to learn more about how your organization can thrive, post-pandemic.
“The best CEOs see the coronavirus crisis as a dress rehearsal for a new normal: a world of climate change, accelerated digital disruption, radical shifts in national alignments and more.”
via Bain & Company
“IDC predicts that by 2025, over two-thirds of the G2000 will have become high-performance, large scale producers of software-based digital innovation. Most of this production of digital innovation will be focused on creating new value for customers, though some may augment internal digital workstreams.”
“As firms mature their digital capabilities, digital executives move beyond simply adding digital bolt-ons to the existing business model. These leaders use new technology capabilities to change the business model and drive new revenue growth.”
Of the four areas tied directly to improved revenue growth and shareholder return — which include design leadership, cross-functional talent, iterative processes, and end-to-end user experiences — CEOs must address design leadership first if their companies are to capture the full business value of design.
“B2B marketers cling to structural strategies of the past: 36% organize around industry segments; 43% organize by channel-specific domain expertise such as email, advertising, or social. And behaviors and execution conform to structures, not the other way around.”