“A key source of ideas that appears particularly underutilised is companies’ own IT departments. These internal technology experts possess knowledge and skills to help their companies use new technologies to transform the business, yet their roles are often limited to implementing other people’s ideas, rather than generating ideas themselves.

Our research identified several important strategies that effective companies use to turn out more and better ideas and foster innovation: They iterate until they find the best ideas, learn from both failures and successes, bring all employees into the innovation process, and maximise feedback to continue to generate ideas that move them forward.”