Benchmarking Innovation Impact 2018

Innovating inside large organizations is not easy. So how do you deliver concrete, tangible impact — over the short-term, medium-term, and long-term?

Innovation Leader and KPMG have collaborated to create the go-to resource on corporate innovation, based on detailed survey data and interviews with senior executives at Whirlpool, Boeing, Johnson & Johnson, Southern Company, General Motors, and more.

Inside, you’ll discover how more than 270 global companies think about innovation funding, staffing, incentives, and metrics. You’ll get the breakdown on how much time and energy they are spending on incremental improvements versus truly transformational, market-changing ideas. You’ll also learn about the top obstacles that corporate innovators encounter, as well as the things they view as key enablers of success.

Whether you are just starting on the journey of creating an innovation program within your organization, or you have one in place that you’re seeking to retool or upgrade, Benchmarking Innovation Impact 2018 is the essential resource.

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Here's what you'll find within the 80-page report:

Data From Innovators

Our review of the data from a 2018 survey of 270 corporate innovators — including lots of charts and graphs.

Corporate Perspectives

Perspectives from corporate innovators at companies like J&J, Fidelity, and Ericsson about how to deliver impact.

KPMG LLP Insights

Insights from KPMG professionals about what this data might mean for you, and alternative approaches.

Questions & Resources

Questions and resources to justify why an innovation program may be needed, or measuring progress.

And here's what we cover in each section:

CREATING STRATEGIC ALIGNMENT

IN THIS SECTION

Innovation Focus

Who Owns Innovation?

THOUGHT STARTERS

What is innovation without strategy? Strategy without innovation? Our rapidly-changing world necessitates that companies consider both, together. But the realities of organizational politics and competing priorities can derail the best laid plans. What are you doing as a leader to align innovation and strategy? How do you adjust structure and governance to best suit and foster different types of innovation?

PERSPECTIVES FROM
  • SVP of the Energy Innovation Center, Southern Company
  • Chief Information Officer, AmSurg Corp.
  • Chief Innovation Officer, Cambia Health
  • And more!
DATA HIGHLIGHTS
50-30-20

The ratio of efforts dedicated to incremental, adjacent, and transformational innovation. The largest companies ($50B in revenue and up) spend even more energy on transformational work: 25 percent.

Who is responsible for executing innovation?
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INNOVATOR PERSPECTIVES
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Funding Innovation

IN THIS SECTION

Funding Mechanism

Funding Sources

Innovation Investment

THOUGHT STARTERS
Strategically, how do you invest to innovate? How is your organization structured to invest for future growth and relevance? Those holding the purse strings set direction by their funding decisions, whether they intend to or not. How prepared are you to rapidly activate funding when required? It can mean the difference between capturing an opportunity and losing ground.
PERSPECTIVES FROM
  • Former EVP of Global Innovation, WD-40 Company
  • Former VP of Concept Innovation, Starbucks
  • Former VP, Nike Innovation Accelerator
  • And more!
DATA HIGHLIGHTS
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Nearly 75 percent of respondents said their funding for incremental innovation comes from the business units.

How does innovation get its budget?
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70%
of respondents say innovation is funded as part of the annual budget.
INNOVATOR PERSPECTIVES
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DELIVERING IMPACT

IN THIS SECTION

Measuring Progress

Incentives for Innovation

Most Valuable Tactics

Staffing

Obstacles to Innovation

Enablers of Innovation

THOUGHT STARTERS
If culture reflects an organization’s commitments and priorities, based on its choices and actions, what does your culture reveal? Do your actions reflect innovation as a priority? If not, what is getting in your way?
PERSPECTIVES FROM
  • VP of Innovation, Fortune Brands
  • VP of Marketing, Clorox
  • Global Head, Johnson & Johnson Innovation
  • And more!
DATA HIGHLIGHTS
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The most common way companies measure the impact of their innovation work is revenue generated by new offerings.

The three main obstacles respondents grapple with:
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What are the most important enablers of innovation?

#1 Leadership Support, 
#2
Ability to Test, Learn, Iterate 
#3 Correct Team, Employees

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50% of companies said they've created recognition or award programs to incentivize employee participation in innovation programs. But 35% don't offer any incentives at all.

INNOVATOR PERSPECTIVES
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MOVING FORWARD

IN THIS SECTION

Hallmarks of a Mature Program

Advice from the Early Stages of Innovation

Just Launching a Program?

Advice from the Later Stages of Innovation

DATA HIGHLIGHTS ABOUT THE RESPONDENTS

We asked all respondents to assess the maturity of their innovation programs, and to categorize themselves into one of five maturity stages, from ad hoc to optimized. Nearly 60 percent of companies are in the earliest stages of innovation maturity.

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© 2018 Innovation Leader LLC and KPMG LLP. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. The views and opinions expressed herein are those of the authors and do not necessarily represent the views and opinions of KPMG LLP. Icon illustration: LAFS, Bjorn Andersson, Made by Made, and Arthur Schmitt of The Noun Project
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Download the Benchmarking Innovation Impact 2018 Report

Download Report ▸

2018 Benchmarking Form Java



© 2018 Innovation Leader LLC and KPMG LLP. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. The views and opinions expressed herein are those of the authors and do not necessarily represent the views and opinions of KPMG LLP. Icon illustration: LAFS, Bjorn Andersson, Made by Made, and Arthur Schmitt of The Noun Project.