Innovative businesses are twice as likely to 'accelerate' in times of economic uncertainty, according to Dell study

Η νέα μελέτη Dell Technologies Innovation Index (Δείκτης Καινοτομίας Dell Technologies), στην οποία συμμετείχαν 6.600 εργαζόμενοι σε 45+ χώρες, αποκαλύπτει ότι οι businesses είναι σίγουρες για την ισχύ της innovationς του οργανισμού τους ενόψει των παγκόσμιων προκλήσεων. Σε ποσοστό 84% παγκοσμίως, (Ελλάδα: 74%) συμφωνούν πως στην επιχείρησή τους καλλιεργείται κουλτούρα καινοτομίας, αλλά η έρευνα δείχνει ένα σαφές «χάσμα καινοτομίας» μεταξύ αντίληψης και υλοποίησης. 

To understand the innovation maturity of businesses around the world, respondents were placed on an innovation maturity scale ranging from "Leaders of innovation" and ends in "Tails of innovation". The results reveal an innovation perception gap. Despite the positive view of the existence of a culture of business innovation, only 18% of organizations worldwide (Greece: 8%) can be defined as a "Leader" and "Innovator". 

This is important, as the "Leaders of Innovation" and "Innovators" are globally 2,2 times (Greece: 1,14 times) more likely to accelerate their innovation during a recession than “Followers of innovation" And them "Laggards" (Laggards – which are more likely to slow down). The good news is that the Innovation Index is indicative and organizations can improve in practice by preparing their people, processes and technology for innovation.

Human-centered innovation 

Businesses need help to develop a culture of innovation where all ideas can make a difference and learning through failure is encouraged. According to the Dell study, companies know this and are confident in their ability to deliver: Over three quarters -78% of organizations worldwide - (Greece: 68%) believe that, in part, people are part of their company because they believe they will be able to innovate, which is an achievement. 

However, they must ensure  bridging the innovation gap. 59% of respondents worldwide (Greece: 46%) believe that people also leave their company because they were not able to innovate as much as they had hoped. And 64% of respondents worldwide (Greece: 68%) say that aspects of company culture prevent them from being as innovative as they want or can be. 

The study also provides businesses with a guide on how they can improve on innovation issues, highlighting both the opportunities for more innovation and the barriers affecting its development.

Process-oriented innovation 

In addition to people-related changes, businesses should also consider how they can improve their processes around innovation. For the groups of respondents the primary obstacle  to the existence of innovation is the lack of time, which highlights the importance of modeling priorities by senior management. Currently, 68% of respondents worldwide (Greece: 64%) state that their leaders focus more on the day-to-day running of the business than on innovation. Without real, visible commitment at the leadership level, ambitious, skilled individuals cannot reach their full innovation potential. 

A corporate environment built around innovation can also lead to better results. While by its very nature innovation can be seen as an organic, ad-hoc pursuit, 63% worldwide (Greece: 75%) of “Leaders of innovation' and of "Innovators" they say their innovation is driven by  targeted actions. 

Technology-based innovation

The study's findings show the power of technology to drive innovation and the consequences of being late. The vast majority -86% worldwide- (Greece: 80%) are actively looking for technologies that will help them achieve their goal of innovation. On the other hand, 57% worldwide (Greece: 60%) believe that their technology is not state-of-the-art and fear that it will fall behind the competition.

The study also explores which of the following five technological catalysts for innovation organizations are making gains in and which are facing obstacles: multicloud, edge, σύγχρονη υποδομή δεδομένων, work από οπουδήποτε και ασφάλεια στον cyberspace. In almost all areas, the biggest obstacle for the  achievement of innovation is complexity.

These challenges also appear in  biggest global technological barriers to innovation:

• Rising cloud costs
• Difficulties integrating the overall business architecture into the IT infrastructure architecture
• Time and resources spent migrating applications to new cloud environments
• Απειλές στον κυβερνοχώρο: η επιχείρηση δεν μπορεί να καινοτομήσει με τα δεδομένα της υπ΄ απειλή και μη ασφαλείς Appliances Edge
• Lack of appropriate IT infrastructure to capture and process data on the Edge

“There is a powerful equation in business: innovative idea + technology = impact. But there are several dependencies that slow down organizations. They often think it's all about the idea. They are waiting for the next big moment of disruption. But small, practical ideas can create a domino effect that leads to greater productivity, profitability and purpose. What they cannot avoid is the right processes and technology. The value comes only when all three are present", says Mr. Aleksandar Preradovic, Country Manager of Dell Technologies for Greece, Cyprus and Malta.

To support organizations on their journey to innovation, Dell Technologies will share "conclusions from 'Innovation Leaders' and 'Innovators'". Visit www.dell.com/innovationindex for more information and read our executive summary.