At the current churn rate, approximately 75% of companies listed on the S&P 500 today will be replaced in the next decade1. Just a quarter of the way into the 21st Century, 375 of these companies will have either gone bankrupt, merged, been acquired, or simply fallen below this top threshold.
To avoid the fate of the majority, companies will need to deliver better results from innovation. But innovation as we’ve known it no longer offers a competitive advantage, and companies must prepare, equip and evolve to compete and grow in a dynamic new world.
There is, of course, no single solution. We’ve identified 21 innovation imperatives that companies should holistically consider and prioritize.
What will it take to compete and win in the 21st Century?
1Creative Destruction - Richard N. Foster/Standard & Poor’s