All of the speakers shared one key learning: Innovations can't get any traction unless they are promoted and exemplified by top management. The main questions are: »Who are we? Why should we still be in business in 5-10 years?« It's also important to constantly question one's own business model and anticipate customer needs in the future. There are enough examples in which these questions weren't answered – and these companies aren't around anymore.
Buy or build? Many companies ask the question: Should be set up a lab internally, or buy a startup for this purpose? One of the panel's important learnings: Cooperation between major companies and startups can be successful when the startup isn't forced into company's processes and structures that block innovations.
Summary: Innovation culture needs to be a company value exemplified throughout the company – from the top to the smallest capillary. The company strategy, brand strategy and HR need to work together to bring about the organization, processes and staff necessary for innovation. More than ever, companies need talents who think in terms of change, not rigid structures.
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Annette Koch
T +49 (0)89 490 411-368
a.koch@kms-team.com
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