Growing Up: How To Let Go To Increase Innovation

Digitally mature companies are twice as likely to cultivate partnerships

source: Nicholas Hoizey

In Accelerating digital innovation, Gerald C. Kane, Doug Palmer, Anh Nguyen Phillips, David Kiron, and Natasha Buckley report on the fifth annual study of digital business by MIT Sloan Management Review and Deloitte. The team surveyed 4,800 managers, executives, and analysts and conducted 14 interviews with executives and thought leaders.

The key takeaway is that greater digital maturity leads to an acceleration in innovation trajectory and a greater reliance on ecosystem-driven innovation. And one major insight is that maturation includes a willingness to share control with ecosystem partners to boost innovation.

Here are the top-line findings:

1. Digitally maturing companies innovate at far higher rates than their less mature counterparts.
2. Employees of digitally maturing organizations have more latitude to innovate in their jobs — regardless of what those jobs may be.
3. Digitally maturing companies are far more likely than their less mature counterparts to collaborate with external partners.
4. Cross-functional teams are another important source of digital innovation. Not only are digitally…