Why Innovation Matters

As Ernesto says, 'you have to continue to 'fly the plane' while at the same time scout the horizon. As soon as you identify an opportunity or a problem, the quicker you can prepare to respond.' According to studies by McKinsey and Accenture, a high percentage of executives believe their current business models are at risk of being disrupted in the near future and consider innovation crucial to their growth strategy.

Furthermore, the most innovative companies show significantly higher revenue and growth compared to their less innovative counterparts. These figures underscore the critical importance of innovation in maintaining competitiveness and long-term success in today's market. Here are three compelling statistics that answer why you should care about making innovation efforts and why they often do not work: 80% of executives think their current business models are at risk of disruption in the near future, highlighting the urgent need for innovation to adapt and thrive in the evolving market landscape (McKinsey). 84% of executives say that innovation is important to their growth strategy, indicating a widespread recognition of innovation's role in driving business success and staying ahead of the competition (Accenture). Despite the recognized importance of innovation, only 6% of executives are satisfied with their company's innovation performance, suggesting a significant gap between the aspiration for innovation and the ability to execute it effectively (McKinsey Global Innovation Survey). '87% of CEOs Say Sustainable Development Goals at Risk: Accenture, UNGC Survey'

What we have heard and these stats reveal is a clear message: while the necessity of innovation and sustainability is broadly acknowledged among business leaders, there is often a disconnect in successfully implementing and benefiting from innovation initiatives. Facilitation is an applied discipline to streamline team innovation initiatives.