The future is here. Is your company ready?

Does the company you work at have structured innovation initiatives, with indicators, methodologies, governance and clear processes?

No; initiatives are assessed and conducted on a case-by-case basis.

We are aware of the importance of this structure, but we’re still taking baby steps.

Yes, we have a structured and mature lab to face the company’s challenges in terms of innovation.

Does the company regularly carry out continuous discovery efforts in order to identify innovation trends and opportunities?

No; we assess issues and opportunities as they come.

We make such efforts on an ad hoc basis, without a regular frequency.

There is a mechanism we use to continuously monitor behavioral trends, new technologies and scenario changes in order to seize opportunities.

Are the movements, trends and new technologies appearing nowadays in the world clear? Is the impact that this can have on your business clear as well?

Not on a recurring basis; we’re often taken off-guard.

I believe they are, but in a very limited way. Sometimes, this takes a considerably long time when compared to how fast changes occur.

We’re always ahead, taking on a leading role and assuming an avant-garde stance in matters that have the potential to change our industry.

We know innovation means execution. Does the company you work at executes innovation initiatives in a well-paced and consistent way?

No. Those initiatives end up competing with what is going on at the moment, without any prioritizing.

We execute some initiatives, but I feel we could do more if we had the support of specialized and dedicated external consulting.

Yes, we have the dedicated teams and the budget to do so. Having a go-to-market strategy for innovative products and services is a priority for the company and we have the right talents to achieve this end.

5. Does your company have an internally-developed culture of innovation?

No; I feel we’re still operating according to a mentality that is very conservative and not very collaborative and innovative.

We’re getting there, but for now we’ve only contemplated some areas of the company. Expanding this culture is necessary.

Innovation is already a part of the company’s organizational culture and values. We have consistent programs and initiatives that deal with topics such as internal entrepreneurship and open innovation.

Is innovation seen as something important and relevant to your company?

No. We believe that changes may compromise and undermine the company, taking the focus away from what needs to be done today.

It’s important, but we need to promote more concrete actions in this sense.

Yes; we believe the company’s growth and competitive edge are a result of the innovation it promotes.

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First Stage: Raising Awareness

In order to remain competitive, driving change is imperative.

Your company tries to stick to the same way of doing business and is still unclear about the opportunities and gains innovation would bring.

A company with this level of innovation maturity is often put off by risks and fearful of change, with more conservative business views. As your company feels the impact of new technologies and new business models, as well as the loss of market share to companies with emerging technologies. If this doesn’t happen, it will be left behind by the competition. Therefore, it’s important to wake up and raise awareness of the importance of innovation, in order to establish structures and move forward in this matter, which very important for the future of the business.

Second Stage: Exploring

Your company on the right track! Now, accelerate the process of change.

In this stage of innovation maturity, your company is starting to venture and has already invested in some initiatives in order to innovate, carry out tests and seek novelties. However, this occurs on an ad hoc basis, without consistency, frequency or structure. Organizations in this stage have already acknowledged the importance of innovation, but still fail to implement concrete actions in a meaningful way. At this stage, leaders, in particular, need to change their mindset.

Traditional companies move at a slow pace due to its flows and processes. On the other hand, the market and clients seek innovation at a fast pace. In order to shorten this distance, businesses in this stage of innovation maturity must be structured in a way to accelerate the go-to-market strategy for its innovative products and services, making them stand out and achieving more expressive results. In this stage, companies must venture on new paths, aiming at the future.

Third Stage: Accelerating

Wow! Your company really thinks ahead when it comes to innovation! Keep being the driving force behind this change :)

Your company is in a considerably advanced stage, more prepared for the world of agile business and changing scenarios. You already have significant achievements in terms of innovation: innovative products and services; operating efficiency due to the implementation of new technologies; exploration of new revenue sources and new markets; internal teams focused on clients and seeking elements in order to stand out; excellent customer experience (CX), this being the highlight when standing out from competitors; business models with a “digital first” mentality.

Yet, saying that this company reached its innovation peak may be an overstatement because, given the restless world we live in, this must be a continuous process, which requires constant evolution.