Looking beyond the innovation paradox: A lack of innovation capability

Within most manufacturers today, across all industries, there seems a conviction among senior managers that innovation is a vital source of competitive advantage and critical for achieving future growth and profitability objectives. But, despite this often declared focus, and the recognition that the pressure to be more innovative is growing, there still seems a vast gap between intention and actual innovation capability. The report “Mastering Innovation; Exploiting Ideas for Profitable Growth” produced by Deloitte Research, not only confirms this by highlighting a major paradox that still persists within many businesses, but also suggests some very decisive steps that companies should take if they want to generate profitable growth through innovation.