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Innovation has long been regarded as the lifeblood of business progress and success. In the face of ever-evolving global challenges, organizations are increasingly aware of innovation’s critical role in ensuring their continued growth and resilience.
A recent study, the Dell Technologies Innovation Index, conducted across over 45 countries with 6,600 employees, sheds light on the state of innovation in various organizations and the perceptions surrounding it.
“Innovation and technology are the driving forces behind human progress, shaping how we live and work,” says Mohammed Amin, Senior Vice President, CEEMETA, Dell Technologies.
Despite the high confidence levels in innovation cultures, the research uncovers an “innovation gap” between perception and realization.
While the positive outlook on innovative cultures is prevalent, only a small proportion of organizations (UAE: 12%, KSA: 39%) can be classified as innovation leaders and adopters, representing a contrast between perception and actual implementation.
The study found that globally, innovation leaders and adopters are 2.2 times more likely to accelerate their innovation efforts during a recession, while innovation followers and laggards tend to decelerate their innovation endeavors.
Moreover, organizations must address the innovation gap to retain talent and encourage continuous growth. Respondents expressed that they would leave their companies if they couldn’t innovate as much as they hoped.
Moreover, a significant proportion (UAE: 69%, KSA: 56%) said that certain cultural aspects within their companies hinder their ability to reach their full innovative potential.
The report provides insights to help businesses bridge the innovation gap by identifying barriers that impede innovation.