Why does micro-innovation matter? The 228% difference.
When comparing the stock performance of design-focused companies the Design Value Index showed that over 10 years, shares of design-centric firms (such as Target, Walt Disney or Nike) beat the S&P index by 228%.
Almost 90% of businesses believe innovation is critical to success, however most admit they don’t do it effectively. The solution is micro-innovation.
Shoot for the moon, but keep your feet on the ground
In May, 1961, President John F. Kennedy proposed to land a man on the moon before the end of the decade. That "moonshot" drove a wave of micro-innovations that eventually led to Neil Armstrong's "giant leap". While Kennedy's vision was important, it was small sustained steps that got them there.
Micro-innovation is the path to consistent growth
A company that embraces a micro-innovation mindset allows for continuous future-focused development while minimizing risk. The result is more productivity, more responsiveness and "creative-by-design" culture of growth.
The World Economic Forum estimates that the combined value – to society and industry – of digital transformation across industries could be greater than $100 trillion over the next 10 years.
Technologies such as artificial intelligence, robotics, 3D printing, data analytics, virtual reality and more present tremendous opportunities for companies to grow provided they have a structured approach to continuous innovation. WildeSpark provides SME companies that structure.