- Return on Investment: top innovators get more than 10 times higher return from their innovation investment than their industry average.
- New Product Profitability: with top innovators, 77% of new products achieve their profit goals, compared to only 27% of products from industry laggards.
- Time to market: top innovators deliver 79% of new products on time, compared to only 21% of products from laggards.
The top innovators did not have to be like Google or Apple. Each organization’s culture, people, product range and market complexity were very different, as was their chosen innovation business model and organization.
The research shows that the one common theme of top innovators, across industries, countries and organizational sizes, was their use of standard management processes to produce results more systematically, and to improve these processes over time to increase performance.
IFT’s ‘Stage-Gate® Ready’ certified solutions are helping companies to build robust innovation processes for repeatable success: uncover new opportunities, generate more breakthrough ideas, optimize portfolio risk and return, accelerate product cycle times, make the best use of available resources, and coordinate and integrate these processes across the organization.