81% of respondents at digitally mature companies cite innovation as a strength of their organisations, compared with 36% from developing companies and only 10% from early-stage companies.

MIT Sloan Management Review and Deloitte

Innovation is vital to being a successful company in the digital age, evidenced by 81% of respondents at digitally mature companies citing innovation as a strength of their organisations, compared with 36% from developing companies and only 10% from early-stage companies. So what separates the most successful companies from the rest? There are a few key factors. First, these companies have recognised the importance of innovation and have prioritised it within their organisations. They have allotted resources towards innovating, whether financial, physical or human resources. In addition, they have created an environment conducive to innovation, where employees are encouraged to think outside the box and take risks. Finally, they have established systems and processes to bring innovative ideas to fruition. By understanding and implementing these success factors, companies can increase their likelihood of driving real change and making a lasting impact in the digital age.