Serial innovation is imperative


July 1, 2020 | By RetailME Bureau

According to the Boston Consulting Group (BCG), serial innovation is imperative for the success of companies and brands around the world.

Facing turbulent and fast-changing markets, innovators need a well-tuned innovation system that can spot emerging product, service and business model opportunities, and then rapidly develop and successfully scale them – over and again.

BCG states that successful serial innovators get three things right:

  • They “walk the talk” as innovation starts with a commitment, making innovation a priority and investing decisively behind that ambition. While 60% of companies rank innovation as a top-three priority, not all walk the talk.
  • They embrace the benefits of scale, Despite the conventional wisdom, larger companies pre-COVID-19 were not statistically disadvantaged on innovation versus smaller rivals.
  • They calibrate their innovation systems for success, ensuring that the “machine that makes the machine” embraces best practices and is internally consistent across all dimensions is essential.

BCG’s ‘The 50 Most Innovative Companies of 2020’ list features some of the most innovative retail brands – including Apple, Amazon, Samsung, Alibaba, Walmart, Nike, LG Electronics, Target, adidas, Costco, JD.com and McDonald’s.

Read the report

 

For all the latest retail news from the Middle East, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the 

Continue Reading

January 17, 2021 | By RetailME Bureau
Cookit

Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created 

Continue Reading

January 5, 2021 | By RetailME Bureau
Al Islami Plant-Based Burger

UAE-based Al Islami Foods, one of the largest frozen food companies in 

Continue Reading

January 3, 2021 | By RetailME Bureau
Marks & Spencer's plant-based range

Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free 

Continue Reading

December 23, 2020 | By RetailME Bureau

World’s largest fully integrated online brand in fresh fish and meat e-commerce 

Continue Reading

December 14, 2020 | By RetailME Bureau




Download Images RetailME Magazine