Survey shows that too little innovation puts companies at risk

Innovation in companies is an important factor for the continued existence of a business. Miro, a provider of workspace solutions, found this out in a survey. Miro published its findings at the end of 2023, revealing that innovative approaches have many advantages and a company can hardly survive without them.

What does innovation bring to a company?

Miro has summarized the findings from the survey in a separate blog article . These factors in particular have emerged:

- Innovation attracts young talent and employees : an insight that should not be underestimated in times of skills shortages. Over 82% of the entrepreneurs surveyed agreed that innovation is an important aspect in the search for skilled workers. As a study based on the year 2022 shows, many employees are constantly looking for better jobs. Innovation is therefore not only important for finding skilled workers, but also for retaining them.

- Innovation makes for a better corporate culture: Unsurprisingly, 77% of the employees surveyed feel more comfortable in an innovative company. An innovative working environment provides variety and keeps work fresh.

- Innovation promotes collaboration: Especially in companies where many projects are implemented in teams, collaboration is a key element for success. Innovative approaches in project management promote this success. One important aspect of this is cross-company communication.

Innovation in project management helps the company

Miro conducted the global survey with 1,700 business leaders and over 8,200 employees. Almost all (over 90%) of the respondents agreed that innovation is necessary for a company to survive.

Around 82% of business managers are certain that a company without innovation will disappear from the market within five years. Just 6% believe that innovation is not necessary to keep a company alive.

Paul D' Arcy, Chief marketing Officer at Miro, says: "Innovation management has become an existential operational risk for companies. Companies that do not innovate will not succeed in the medium term."

Project management is required to implement innovations. Innovations arise from projects in which they can be implemented.

"Dealing with the topic of innovation management inevitably leads to dealing with the topic of project management." This is how a master's thesis on the subject from 2011 begins, and nothing has changed. Projects promote innovation and it promotes projects.

So before innovation management is tackled, project management should be in place first.

Project management with ITIL® 4 and skill it

Project management requires a great deal of organization and interaction between the individual areas of a company. Project management software such as ITIL® 4 helps with this. ITIL® 4 Foundation - compact course you will learn the basics of the software. In our three-day training ITIL® 4 Foundation Practice you will deepen your knowledge of ITIL® 4 with practical exercises, enabling you to implement your first innovations.

You get the full innovation with our course ITIL® 4 Create, Deliver and Support. You will learn the core elements of the value stream and how to generate sustainable services. There are then no limits to innovative processes.