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20459 Hamburg

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Managing innovations is a diverse way of working which can take various forms. In the following we would like to familiarize you with a selection of interesting and relevant facts around this exciting topic.

Drivers of profitability

Surveys among top managers illustrate the importance of innovations for the corporate success:

Enhancement of the innovation capability
44%
Measures to reduce costs
42%
New markets through internationalization
40%
Focus on core competencies
39%

Most innovative companies

The key evaluation objectives are factors like the proportion of new products within the entire portfolio or the number of new patent applications per year.

Apple

Google

Amazon

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The Problem

Too many innovations fail! The failure rate varies depending on the respective industries:

75 %

Average flop rate across all industries

Reasons for failure

Some of the most frequent reasons for the failure of innovation projects are:

Lack of willingness to embrace change

High risk aversion at various levels

Low level of trend and future orientation

Mistakes in the handling of creativity techniques

Lack of necessary resources (time, money, people etc.)

Operational mistakes in the implementation process

Comparison of incremental vs. radical innovations

Disruptive innovations have an above-average influence on the profit outcome of companies

Incremental innovations

Radical innovations

New products or services
86%
Auswirkungen auf den Umsatz
62%
Auswirkungen auf den Gewinn
39%
Neue Angebote
14%
Effects on turnover
38%
Effects on profits
61%

Despite the positive effects of radical innovations on the business performance many managers are afraid of implementing them! This is where we would like to help you. Our consultants are happy to support you in the implementation of your innovation projects and point out specific ways how to turn market opportunities into a market success.

Our range of services includes measures for the incremental development, but also for a radical redefinition of your service portfolio. Contact us today and benefit from our long-lasting experience in the field of trends and innovation!

Jan Kristof Arndt [Founder and CEO, trendINNOVATION | Trend and Innovation Consultancy]