Companies are fundamentally changing the way they innovate. Innovation has moved beyond products and services and now regularly encompasses business models, operating systems and customer experience. Additionally, collaboration with both internal and external partners has become vital to innovation efforts.
Dutch respondents are found to be ahead in open innovation compared to their global peers.
This PwC survey looks at what over 1,750 C-suite executives think about innovation within their organisation.
It reveals that the world's most innovative companies expect to grow by more than 60% over the next five years, adding a total of more than US$250 billion in new revenues as a result of sophisticated approaches to innovation in all areas of their operations.
The study found that there is a direct correlation between excellence in innovation and superior revenue growth. Executives from the most successful companies devote more time to innovation, have more incentives to collaborate and are more likely to be supported by senior management.
You can find additional information and a special data explorer tool on the Global Innovation Survey microsite.