This Week in Consulting
Wednesday, June 19th, 2019
Innovation Versus R&D Spending.
THIS WEEK’S MUST READ
“We are often asked to advise company leaders on how much they should invest in technology, science, and product innovation. Their assumption is that the more technology and products they invent, the more success they will have with innovation…”
Investments in R&D to foster technology, science or product innovation are just the first steps towards success. The hard part of innovation is achieving market success with the technology and products we invent. While spending nothing on R&D is often not an option – technology, science and product innovation are just the first steps towards success.
This Week’s Must Read is an insight piece from Strategyzer on the profitability of R&D investments. Combining studies from various consulting firms the authors make the case that what maters is not to spend a lot but to spend smartly.
Read on to Find out More: “Innovation Versus R&D Spending“, Innovation Versus R&D Spending
THIS WEEK’S VIDEO:
This week it’s a podcast by Philip Ideson. He’s joined by Cyril Pourrat, Chief Procurement Officer at Sprint. “Many procurement organizations pay lip service to innovation, but few are taking the steps required to make it a reality…”
THOUGHT LEADERSHIP
- Disruption Starts with Unhappy Customers, Not Technology– “What is disrupting your business?” No matter who you talked to, you would always get one of two answers: “Technology X is disrupting our business” or “Startup Y is disrupting our business.” Very rarely, will you get the answer: “We brought this upon ourselves” by being internally focused. The article describes how disruption is customer-pulled rather than technology-pushed. | Thales Teixeira, Harvard Business School
- Six Real World Lessons From The Gritty Frontline Of Strategy & Innovation– Building from their experience working with industry leaders in innovation, the author proposes 6 simple attributes to stress test your strategy. | Tom Gray, Fahrenheit 212
- 3 Ways Change and Innovation Drives Digital Transformation– Does your Company have a digital strategy? Or a Strategy in a digital world? Is digital a mean or an end? The article touches upon the recipe to embark on a successful digital transformation. | Daniel Newman, Futurum Research
- The 3 surprising secrets that drive innovation in the digital era – What if driving innovation in the digital era came down to three simple actions? Many executives tend to oppose reducing costs and increasing performance. When indeed the secret sauce is to do both at the same time. In a digital world, leaders need to reconcile unleashing innovation and maintaining the overall consistency of the systems. | Charles Araujo, Institute for Digital Transformation
TRENDS
On the same theme,here is a selection of conferences that you might find useful
Innovation Roundtable SUMMIT 2019 : A unique opportunity to network with innovation leaders in different industries.
The Digital Transformation Conference : The Digital Transformation Conference brings together leaders spearheading digital initiatives in their organisations to offer insights, education and case studies on what can be a confusing environment.
CONSULTING INDUSTRY NEWS
- Capgemini and ISAI launch a fund for B2B start-ups and scale-ups: Capgemini and ISAI announce today the launch of a dedicated investment fund for B2B start-ups and scale-ups. With a target allocation of 90 million euros, this fund aims to take minority stakes in young technology companies who have developed innovative solutions, future leaders of the software industry (IaaS, SaaS, PaaS [2]) and sustainable IT. | Sam Connatty, Capgemini
- Professional services struggle keeping up with risk & compliance: The professional services industry is often tasked with keeping their clients in step with new global regulatory rules and compliance measures. However, according to a new study, ‘Insight to Action – The Future of the Professional Services Industry’, many firms are struggling to keep up with the rate of change themselves. | Consultancy.uk
- The human case for automation: Popular culture has for years fuelled a mythical concept of robots turning on their creators. From Frankenstein to The Terminator, these stories have instilled a fear in many of us that the robots of today – using the most sophisticated AI and automation – are going to steal our jobs. | Katharine Henley and Heledd Straker, PA Consulting
- Accenture: Aerospace, Defense Leaders See AI as Tech Game Changer– A new report shows that 33 percent of aerospace and defense executives said they expect their organizations to witness the greatest impact from artificial intelligence in the next three years compared with distributed ledger, quantum computing and other emerging technologies. | Jane Edwards
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About Consulting Quest
Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.
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Hélène Laffitte is the CEO of Consulting Quest, a Global Performance-Driven Consulting Platform and author of “Smart Consulting Sourcing”, a step by step guide to getting the best ROI from your consulting. With a blend of experience in Procurement and Consulting, Hélène is passionate about helping Companies create more value through Consulting.
