Partner News: Logica’s Collaborative Innovation survey

Date: 01 February 2010

INSEAD and Logica surveyed two hundred CxO level business leaders from blue-chip organisations from public and private sectors across Europe about their views on innovation. The survey was held cross industry and a significant number of transport and logistics clients were involved. Based on the findings, INSEAD developed an Innovation Readiness Model (IRM), as a way to rank organisations' ability to innovate successfully. The ‘readiness’ ranking is the measurement of an organisation’s ability to put into practise leading-edge thinking on innovation. The IRM showed that despite leaders prioritising innovation at board level, organisations scored on average a disappointing two out of four on the IRM.

The full survey delves into the concept of ‘Innovation Ready’, illustrating it with real-world case studies, before breaking down its findings by country and sector. The survey is a valuable indicator of the current state of play for innovation today, as well as indicating the way forward for innovation management.

Key findings of the survey:

• Despite the recession, 80% of organisations have increased or maintained innovation spending
• However, 41% see short-term financial performance clashing with long-term innovation priorities
• Only 16% have good metrics in place to evaluate the success of innovation projects and only 9% use ROI as a measure of innovation
• 64% don’t have a Chief Innovation Officer
• Only 28% of UK respondents think innovation is deeply embedded in their culture
• UK workers are most likely to learn from their mistakes with 50% of business leaders saying they encourage their organisation to do so. France achieved the lowest rate at 20%

Bruno Lanvin, Executive Director of eLab@INSEAD commented: “If leaders do not improve their innovation readiness, their organisations will not rank among the future winners of the global economy. This is particularly true given the increasing competition from new competitors from emerging markets, such as China and India.”

Cees de Wijs, Group Director of Logica Transport and Logistics commented: “The Innovation Readiness Model gives us valuable insights as to how transport and logistics organizations can address the real world challenges of successful ITS implementation. We consider ERTICO as an important platform for collaborative innovation in the transport and logistics sector in Europe.”

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