The year of innovation 2021
The innovation year 2021 shows that companies have fought a hard battle to survive. Short-term survival innovations more than long-term positioning innovations have been the preferred option for many.
The results from the Norwegian Innovation Index 2021 are available and the picture is clear:
The innovation year 2021 shows that companies have fought a hard battle to survive. There have been many "panic innovations", which means that companies have either innovated to become more efficient or developed new products or services to replace lost revenue.
Two examples come to mind.
The underwear manufacturer Janus started producing face masks early on when there was a shortage in the market.
The spirits manufacturer Arcus, among others, started producing hand disinfection when there was a high demand. Customers do not see this as innovative in the traditional sense but as an expression of adaptability - agility.
In the innovation index for 2021, there are overall no significant changes from 2020 in three indices: commercial innovation, social innovations, and digital innovations.
But for two of the indices - commercial and social innovations - there is an underlying negative trend from low numbers that is significant. That's problematic.
In addition to panic innovations, the side-ways move from 2020 to 2021 may also be due to the pandemic impacting people's sentiment and deflating the results. People are tired.
In addition, increased digital competence in the population by living digitally professionally and socially have increased customers' usage expertise and consequently their expectations of digital innovations.
The Norwegian Innovation Index 2021 results will be presented at an event at NHH's campus in Oslo 9 february. The event is hosted by the Digital Transformation HUB@NHH and Bekk.
Follow the link below to read more and register.
Innovation 2022 - Innovation Strategies during times of external shocks