Innovation leaders analysis summary 2011 12
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Lessons from the Leaders
2011/12 Analysis Summary
18 April 2011
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Background Context on the InnovaBon Leaders Analysis
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For the past ten years we have analysed the innovaBon performance of over 1500 firms and profiled the leaders
Eight key areas are examined as input into the annual assessments:
1. OrganisaBonal culture and supporBng structure 2. Strategic focus on innovaBon and its role in driving corporate growth 3. Number of major new product launches and relaBve success raBos
4. Growth in revenues, profits and market capitalisaBon
5. Average margin per product or customer
6. Investment in innovaBon-‐related acBviBes such as R&D and markeBng
7. Brand value and human capital growth
8. Peer review from within the sector
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At the core of the analysis, for each sector we look at a raBo of innovaBon impact to the resources being deployed
Each algorithm is based on: InnovaBon Output
InnovaBon Input
Company CapabiliBes
InnovaBon Input InnovaBon Output
Together this provides what we believe to be the most accurate assessment of current innovation impact
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Ten years ago, the capabiliBes that made a difference in innovaBon were clearly idenBfiable and a focus for all
The tradi*onal areas for a0en*on have been:
1. Clear strategic focus on building and exploiBng core competences
2. Using mulB-‐funcBonal teams to drive innovaBon across the organisaBon
3. AdopBng stage-‐gate processes to manage new product development
4. Engaging the voice of the customer and new sources of consumer insight
These are now hygiene factors – everyone uses similar approaches so they make no real difference
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In recent years, InnovaBon Leaders have variously been developing new capabiliBes to shi\ performance up a gear
Recent areas of focus include:
• Open InnovaBon especially around external sourcing of innovaBon
• Strategic collaboraBon between companies across sector boundaries
• Engaging customers in the heart of the innovaBon process
• Using longer term foresight to be]er inform on emerging opportuniBes
These will also become commodities so organisations are looking at the new leaders for inspiration
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We assess 25 sectors and cover a wide range of businesses so we can highlight the successes in different industries
Aerospace
Airlines
AutomoBve
Chemicals
Consumer Electronics
Energy
Fashion Retail
Food and Drink
General Retail
Household Goods
Hotels and Leisure
Insurance
IT Hardware
IT Services
LogisBcs
Media and Entertainment
Medical Devices
Office Equipment
PharmaceuBcals
Retail Banking
So\ware
Sports Goods
Telecom Equipment
Telecom Operators
Toys and Games
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Throughout the past decade, the InnovaBon Leaders have consistently out-‐performed peers and major share indexes
Start Yr End Yr FTSE 100 2yr NASDAQ 2 yr IL Poreolio 2yr Change
2001 2003 -‐15% -‐1% 0%
2002 2004 +26% +60% +68%
2003 2005 +26% +12% +65%
2004 2006 +29% +11% +39%
2005 2007 +15% +21% +58%
2006 2008 -‐32% -‐37% -‐20%
2007 2009 -‐16% -‐15% -‐16%
2008 2010 +40% +73% +130%
2009 2011 +3% +15% +33%
Average +8.4% +15.7% +39.5%
This tracks the share performance of companies over the 2 years after Innovation Leaders analysis
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The 2011/12 InnovaBon Leaders
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Across the 25 sectors the current innovaBon leaders are clear and show how innovaBon pracBce is evolving
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Amazon is very much a technology-‐focused company using and sharing capabiliBes well beyond its core retail business
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Apple conBnues to use its design, brand and user interface prowess to (re)invent and grow new categories
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ARM is the hidden ingredient in many mobile devices and earns growing revenues from technology licensing deals
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BASF is growing well through simultaneously creaBng new technology plaeorms and reducing environmental impact
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BharB Airtel’s unique business model is allowing for rapid expansion with none of the usual telecom barriers to scale
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BMW is enhancing the travel experience for drivers and passengers while also launching a series of new plaeorms
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Canon’s focus on building on its four core technology plaeorms maintains its leadership in Office Products
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In a challenging environment, Chevron is shi\ing from oil to gas and acBvely promoBng cleaner energy technologies
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Google conBnues to innovate disrupBvely across the board with notable impact in mobile, imaging and corporate apps
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Humana is improving its customers’ health and wellness through innovaBve partnerships with other companies
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IBM has delivered a decade of growth a\er reinvenBng its business while maintained world-‐leading R&D investment
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ICICI’s growth is being driven by delivering compeBBve retail products across a highly efficient network
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Inditex and its Zara brand is opening 10 new stores a week as the supply-‐chain-‐driven customer experience wins out
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LEGO set the standard in fan-‐based innovaBon and is now pushing the envelope of acBviBes into a]racBve markets
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With new lounges, new seats, new routes and new planes, Europe’s largest airline is flying ahead of the compeBBon
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Medtronic conBnues to lead in partnership-‐driven innovaBon to address a wider range of chronic diseases
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Microso\ conBnues its highly profitable business by invesBng heavily in research across many opportunity areas
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Having reposiBoned its poreolio, Nestle is focused on innovaBon across its brands and emerging market growth
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Nike has regained leadership in sportswear through technical performance and driving the sustainability agenda
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Qualcomm is developing key wireless technologies for the next generaBon of global telecom networks
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Recki] Benckiser’s 13th year of constant growth is driven by fast incremental innovaBon and power-‐brand expansion
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The leader in biopharmaceuBcals and in-‐vitro diagnosBcs developing targeted medicines for personalized healthcare
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Rolls Royce’s technology leadership coupled with its Total Care business model makes it a preferred partner for many
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New brands such as alo\ and element have added extra twists as Starwood sets the pace in the hotel / leisure space
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With over 8.5m customers a day, UPS is growing its logisBcs services globally with a highly tuned process at the core
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Across all 25 companies, we can see the next tranche of innovaBon capabiliBes emerging onto the global scene
These include:
• Technology partnerships focused around shared growth plaeorms
• OpBmising delivery engines to give consistent global consumer experiences
• ReinvenBng the status quo and challenging exisBng business models
• ProacBvely realigning product poreolios ahead of emerging changes
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Further InformaBon
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The InnovaBon Leaders analysis is used to sBmulate thinking in different companies in a number of ways
Follow us on twi]er #innovatnleaders
To discuss the research: [email protected]
To request a keynote speech: [email protected]
To organise a workshop: [email protected]
Or to get in touch directly:
Dr Tim Jones
Director of Research -‐ InnovaBon Leaders
+44 780 175 5054
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Lessons from the Leaders
2011/12 Analysis Summary
18 April 2011