Executive summary

Only 21% of those we surveyed say that they have achieved their innovation goals. Yet almost all respondents agree that innovation will be a primary source of growth in the next two years. So why innovation, and why now?

Against the backdrop of continued global change and shifting strategies, resilience has emerged among the top predictors of success. Our report indicates that organizations innovate because it’s essential for generating business resiliency. It also drives superior digital experiences, and leads to higher profits and margins, as evidenced by a select group of innovators.

This insightful research of 1,000 respondents across North America and Canada provides a state of the market report on innovation and digital transformation, while exposing challenges and barriers and tracing how organizations are turning to innovation to achieve growth, value, and high performance.

Key findings

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Innovation, a primary source of growth

96% say innovation will be a primary source of growth over the next two years

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Sustainability, a top 3 driver of innovation

Sustainability is a top 3 driver of innovation, even ranking above profitability for some respondents

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Growth of core-tech

Investments in core-tech set to grow as technology moves from a support function to becoming core to innovation

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Innovation culture, critical for success

46% say an agile, iterative and less hierarchical organization structure is crucial for innovation

Explore more findings in our in-depth report.

Barriers to innovation

While innovation is touted as the primary source of growth the reality couldn’t be more different. Only 21% of organizations achieved their innovation goals as a string of challenges holds them back.

How are organizations overcoming these barriers?

Get your copy of the full report

Download the full report and learn how organizations are achieving growth, value, and high performance, plus:

  • Approaches and investments in innovation
  • How innovators differentiate themselves
  • Five business strategies to overcome challenges