What Innovation Leaders Do Differently
Innovation leaders, about a quarter of the companies studied, draw close to 70% of their value from innovation-driven revenue growth by innovating in the core as well as beyond it, which lifts near-term results while building future advantage.
Summary
Drawing on three years of Build for the Future research, BCG finds a quarter of companies are innovation leaders, and close to 70% of the value they create comes from innovation-driven revenue growth, well above peers and the S&P Global 1200. Leaders innovate in operations, customer experience and culture as well as through new products and businesses, and allocate resources by desired outcomes. Their playbook is to strategize, create and scale, and accelerate; a beverage company scaled new businesses to $1 billion this way.
Editor's opinion
Vague, promotional claims (10x faster growth) without clear sourcing.
Key concepts
Innovation in the core · Build for the Future · Strategize, create and scale, accelerate · Future readiness · Portfolio approach to innovation