Our approach to innovation—in business and beyond
Turning disruption into lasting value
Disruptive innovations—if they’re not seen as opportunities, they’ll most certainly become threats to the way we do business. Deloitte takes a comprehensive and systematic approach to innovation, asking the right questions in order to help clients stay future-focused and growing strong. We strive to deliver impact that matters by transforming complexity and disruption into lasting value.
- Five key areas for driving innovation
- Ten types of innovation
- Video: Innovations that provide business value
- Managing your innovation portfolio
- Product innovation: Who’s really in
Five key areas for driving innovation
With our depth, breadth, and relentless passion for innovation, we have the ability to create powerful, attainable opportunities to stay ahead of the curve.
We approach innovation by constantly asking questions and evaluating five key areas of an organization:
- People. How will people react to this change? Are we organized for innovation? What changes are needed?
- Process. How will we need to change the way we work? Have we thought through all the other processes and workflows that may be impacted by this change? Do we embrace experimentation?
- Technology. Will the new technology work? What risks need to be managed and which are most likely to yield the biggest returns?
- Governance. Do we have the organizational discipline to execute on this innovation? What are our quality controls and mechanisms of accountability?
- Policy. How do shifting regulatory policy and legal requirements impact our need to change and the likelihood of our innovation initiative’s success?
Read the book: Ten Types of Innovation
In Ten Types of Innovation, the renowned innovation specialists at Doblin, the innovation practice of Monitor Deloitte within Deloitte Consulting LLP, will help you and your teams know what to do when the stakes are high, time is short, and you really need to build a breakthrough. This book lays out fresh viewpoints and then explains the actions that can allow teams or firms to innovate reliably and repeatedly.
Innovations that provide business value
Managing your innovation portfolio
In this Harvard Business Review lead feature article, Geoff Tuff and Bansi Nagji (formerly) of Monitor Deloitte make the compelling argument that organizations require a balanced innovation portfolio and should manage for "total innovation." In the article, the authors report findings from a study in which they examined companies in the industrial, technology, and consumer goods sectors, and correlated the pattern of companies' innovation investments with their share price performance.
Product innovation: Who’s really in charge?
Product innovation is a priority for virtually every hi-tech company. However, there is often organizational disagreement and confusion around who should own the innovation agenda and how commercialization of ideas should be managed. In this Deloitte report, we explore how a lack of clarity can result in a sputtering innovation engine and a risk-averse culture. Product innovation cannot—and should not—be the responsibility of a select few. Innovation requires the left brain and the right brain, the technologist, and the business strategist.