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Gaining competitive advantage

Gaining competitive advantage. Innovation and Competitiveness in the eyes of CEOs PwC 2nd Hungary CEO Survey. 12 April 2013 Nick Kós Country Managing Partner PwC Hungary. Gaining competitive advantage. What is innovation? Why is innovation so important to us?

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Gaining competitive advantage

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  1. Gaining competitive advantage

    Innovation and Competitiveness in the eyes of CEOs PwC 2nd Hungary CEO Survey 12 April 2013 Nick Kós Country Managing Partner PwC Hungary
  2. Gaining competitive advantage What is innovation? Why is innovation so important to us? How do CEOs see innovation and competitiveness? The 1M USD question: how shall big companies become entrepreneurial in these challenging times?
  3. 1. What is innovation? Toyota defines innovation as an incremental process, Toyota implements a million new ideas a year, and most of them come from ordinary workers! Do your innovations create value for customers – or just novelty?
  4. 1. What is innovation?
  5. 1. What is innovation?
  6. 2. Why is innovation so important to us? Disruptive changes in more and more areas Countinous pressure on efficiency Rapidly changing customer needs +1: Employer branding: innovation is sexy Intrapreneurship
  7. 2. Why is innovation so important to us? High priority for today’s companies: cultural change needed One of the priorities of PwC as Trusted Business Advisor -PRTM Management Consulting as part of PwC now PwC has a dedicated Innovation Office and Global Innovation Network New initiative: Global Innovation Survey PwC Local initiatives – Innovation@Poland
  8. 3. How do CEOs see innovation and competitiveness? 16th Global CEO Survey – 1330 CEOs 2nd Hungarian CEO Survey - 171 interviews were conducted with Hungarian CEOs between October and December, 2013 CEOs priority: cost cutting and operational efficiency… …Meanwhile innovation isn’t possible without investment
  9. 3. How do CEOs see innovation and competitiveness?
  10. 3. How do CEOs see innovation and competitiveness?
  11. 3. How do CEOs see innovation and competitiveness? 2% 14% Which factors have improved your company’s competitiveness in the past 12 months? 14% 1. Improving operational efficiency 2. Implementing cost reduction 3. New investments, new profiles 26. R&D 8. Innovation 13% … 9% …
  12. 3. How do CEOs see innovation and competitiveness? 3% 31% What is the biggest challenge in your industry? 26% 1. Shrinking market 2. Changes in legislation 3. Changes in taxation 14. Innovation 4. Competition 22% 22% …
  13. 3. How do CEOs see innovation and competitiveness? - government and regulators In Hungarian CEOs opinion what role does the government take on? And in comparison what should be its priority? Percentage of CEOs
  14. 4. An approach to corporate innovation by PwC - 1 First: Throw Out What You Don't Need. Don't weigh your innovation portfolio down Clean the pipeline Reduce complexity Next: Move Faster. Severe conditions punish slow movers. Now, Manage Capacity. Take a hard look at what you have on hand and what you will need to survive for the next 12 months. Find new sources Identify constraints Convert What You Have Into Something More Valuable. Be imaginative and bold Create business model innovations for current products Innovate on cost reductions for existing products and services Leverage strong customer loyalty to provide new customer experiences And Finally: Keep Your Head. Don’t let the current situation affect your basic good judgment.
  15. 4. An approach to corporate innovation by PwC - 2 Getting closer to your customers: ...but how you develop it, how you sell it, how you deliver it, and what you sell with it. For example, over half of CEOs in our 16th Annual Global CEO Survey are increasing the emphasis of their company’s innovation portfolio on business model innovations. Becoming systematic about innovation: Effective innovators have structures in place to encourage entrepreneurial thinking at employee level... ...while having strong leadership backing and centralised support. Companies are also looking to harness the power of ideas that come from outside their organisation. The long haul: Continuous innovators have a pipeline of incremental ideas as well as longer term big bets. How are you creating the business of tomorrow, even as you keep your organisation lean today? Embracing digital: The complete change of operational models as a result of digitalisation is driving many forms of innovation. Are you fully taking advantage of what digital means for your business?
  16. If we want to turn HungaryFrom Assembly lines in Electronics vs. …
  17. If we want to turn Hungary… to high value added, innovative industries
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