EMEA BUSINESS
Why the opportunity for innovation has never been greater For so many, 2020 has been a year of continuity and survival. The thought of breaking new ground may seem farfetched for those that aren’t one of the few sectors that have grown this year. Is innovation even achievable, when everyone is working flat out just to keep operational? Perhaps it is better to reframe the question – in a disrupted world, is innovation the difference between success and failure? History shows that is the case. The ability to move fast, to develop and deploy new services, is fast becoming the differentiator between winners and losers. Perhaps before the pandemic losing meant falling behind the curve; now, it can spell the end of a business. It is certainly changing the way we all do business. A McKinsey and Co study 1 found that “more than 90 percent of executives said they expect the fallout from COVID-19 to fundamentally change the way they do business over the next five years, with almost as many asserting that the crisis will have a lasting impact on their customers’ needs.” Furthermore, 70 percent believe that the changes brought about by the virus will be a big opportunity for growth. Of course, being able to see those opportunities, and seize them, are two different things. The same study noted that just a fifth of respondents felt confident in their ability to seize new growth opportunities.
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