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Provocativethinking,transformativeinsights, tangibleoutcomes
GOVERNING
INNOVATION
The recipe for portfolio growth
Our research reveals that
innovation investments and
application across portfolios are
increasing
Companies are
expanding innovation
spend and spread
Investments in innovation
are expected to increase
1.8x
in the next 5 years.
Companies are embracing
both incremental and
non-incremental
innovation across their
entire portfolio of
businesses.
To assess how companies apply innovation across their
businesses we leveraged the Portfolio Innovation Model
Portfolio Innovation
Apply incremental and non-
incremental (breakthrough and
disruptive) innovation across
businesses of all maturity levels
(legacy, growth and emerging)
INCREMENTAL
INNOVATION
Enables small
improvements or
extensions to
existing offerings
BREAKTHROUGH
INNOVATION
Enables new
product or service
variations, using a
new technology
DISRUPTIVE
INNOVATION
Enables an
entirely new
offering to
address an unmet
need
EMERGING BUSINESSES
The most nascent ventures; new
business models, yet to be scaled
GROWTH BUSINESSES
Experiences strong market demand;
based on differentiated offerings
LEGACY BUSINESSES
The oldest, most mature, businesses;
provide steady cashflows
BUSINESS
MATURITY LEVELS
INNOVATION TYPES
Companies tend to
innovate for longevity
or for balance
The vast majority of companies
manage innovation according to the
shape of today’s business
of companies innovate for longevity
today, dedicating the lion’s share of
innovation investments to their legacy
businesses.
of companies innovate for balance today:
most of their innovation investments flow
to their growth and emerging businesses.
26%
74%
What is the shape of your portfolio today?
62%
24%
14%
MATURE PORTFOLIO
Companies that generate 50% or more of
their revenues from legacy businesses today
37%
38%
25%
INVESTMENT STRATEGY:
BALANCE
Majority of innovation investments
flow to growth and emerging
businesses
Note: Total Sample N=1,090.
Mature portfolio companies N=802 (74% of
the total). Balanced portfolio companies
N=288 (26% of the total).
Percentages represent average revenue
generated for each portfolio business for
each cluster. The median value shows a
similar distribution.
Source: Accenture Portfolio Innovation
Survey, 2019
Emerging businesses
Growth businesses
Legacy businesses
INVESTMENT STRATEGY:
LONGEVITY
Majority of innovation investments flow
to legacy businesses
BALANCED PORTFOLIO
Companies that generate more than 50% of
their revenues from growth and emerging
businesses today
Two portfolio models, two investment strategies
42%
34%
23%
20%
Intensify non-incremental
innovation
Intensify incremental
innovation
Intensify both non-incremental
and incremental innovation
Business as usual
Percentage of
companies expecting
double digit growth in
their legacy businesses
Knowing where to intensify innovation is key
Note: Mature portfolio companies are those that generate >=50% of total revenue from their legacy businesses.
Sample N = 802. Double digit growth is >=10% CAGR in the next 5 years.
Source: Accenture Portfolio Innovation Survey, 2019
Expected impact of innovation type on future growth in the legacy business
~2X
For mature portfolio companies, non-incremental innovation in
legacy business holds the biggest growth promise
50%
40%
30%
20%
10%
0%
13%
9%
30%
7%
Intensify non-incremental
innovation
Intensify incremental
innovation
Intensify both non-incremental
and incremental innovation
Business as usual
Percentage of
companies expecting
double digit growth in
their newer businesses
Innovating for balance calls for a more pervasive approach
Double digit growth in newer businesses requires intensive adoption of
a broad set of innovations for balanced portfolio companies
Note: Balanced portfolio companies are those that generate <50% of total revenue from their legacy businesses.
Sample N = 288. Double digit growth is >=10% CAGR in the next 5 years.
Source: Accenture Portfolio Innovation Survey, 2019
Expected impact of innovation type on future growth in the newer businesses
2.3X
50%
40%
30%
20%
10%
0%
We examined how
innovation is and
will be governed
84%
of companies say that
they are taking a more
centralized approach to
directing innovation.
Most companies know that
their innovation investments
must be managed
proactively….
… yet most companies
govern innovation
haphazardly today.
Our hypothesis: the more
widespread innovation
becomes, the stronger
governance it will need
Only 12%
of companies govern
innovation extensively
today.
12 Governance rituals enable innovation
Our research found that companies are better able to turn innovation
investments into growth when they follow these 12 governance rituals.
1. Put innovation at the
center of corporate
strategy
2. Actively communicate
innovation agenda
3. Actively build a culture
of innovation
4. Everyone generates
ideas to improve
existing offerings
5. Diverse team of experts
generates Ideas for
brand new offerings
6. Identify disruptive Ideas
with the help of tech
partners
7. Experimentation
investments made as
part of budgeting
lifecycle
8. Experimentation
investments are funded
gradually
9. Experiments are
conducted by an
innovation lab/digital
factory
10.Scale with technology
partners
11. Scale with talent
partners
12.Scale through an
innovation lab/digital
factory
Inspiration Ideation Experimentation Scaling
80
90
100
110
120
130
140
150
160
170
180
190
200
2013 2014 2015 2016 2017 2018 2019e 2020e 2021e 2022e 2023e
Revenue growth and commitment to innovation governance
Revenue Trajectory (Past: 2013-2018 and Future: 2019 to 2023 Estimated); (2013 = 100)***
Sample: N= 881
Note: * Extensive innovation governance: adoption of 6-12 rituals (133 companies remain in this group in the future). ** Selective innovation governance: adoption of <6
rituals (206 companies remain in this group in the future). 748 companies expect to switch from selective to extensive innovation governance in the future. *** Normalized
revenues for 2013-2018 were obtained by first adding the revenues of all companies in the respective cluster, and then equating the sum for 2013 to 100. Future revenue
CAGR was estimated using projected overall revenue growth rates between 2019-2023.
Sources: Accenture Portfolio Innovation Survey, 2019, Capital IQ, Accenture Research Analysis
5.9%
CAGR
Revenue trajectory of
companies adopting
*extensive innovation
governance (past and
future)
Revenue trajectory of
companies switching from
**selective innovation
governance (past) to
*extensive innovation
governance (future)
7.2%
CAGR
RevenueTrajectory
6.5%
CAGR
100 2.9%
CAGR
More is more
Companies that govern innovation extensively delivered 2x revenue growth
compared to those following a haphazard approach
Looking ahead
Choose your
portfolio model
and investment
strategy
Govern
innovation to
grow
Mature Portfolio
Investment Strategy: Longevity
If you expect to generate 50% of revenues
or more from your legacy businesses in the
next 5 years, and that is where strongest
growth is expected…
Balanced Portfolio
Investment Strategy: Balance
If you expect to accelerate revenue
generation from growth and emerging
businesses in the next 5 years…
…get more disciplined in the way you
experiment with and scale new ideas,
especially those that rely heavily on
new technologies.
…get more disciplined in the way you
generate and test new ideas. Look
outside your organization for disruptive
ideas with the right partners.
Source: Accenture Research Analysis
About the research
In order to better understand how portfolio
companies approach innovation, how they
allocate innovation investments across different
businesses and how they manage those
investments, we structured our research in three
phases:
1. 20 in-depth interviews with corporate, non-
corporate and academic innovation experts
2. Phone-based survey with senior executives
from 1,090 companies above $1 billion in
annual revenues
3. Financial analysis on revenue growth for the
1,090 surveyed companies
11 industries
Automotive
Banking
Chemicals
Communications & Media
Consumer Goods & Services
Energy
Health
High Technology
Life Sciences
Software & Platforms
Utilities
Organization Level
56%
25%
8%11%
0%
10%
20%
30%
40%
50%
60%
US$1-9
Billion
US$10-29
Billion
US$30-49
Billion
US$50
Billion or
more
ANNUAL REVENUES
Australia, Brazil, Canada, China, France,
German, India, Italy, Japan, Netherlands, South
Africa, Spain, Switzerland, US, UK
15 COUNTRIES
20%
C–suite
16%
VP/Director
64%
Senior Manager
Functional Area
4%
Innovation
6%
Research and
Development
23%
Strategy
26%
Marketing
41%
Operations
Tell me more
www.accenture.com/portfolioinnovation
Join the conversation
@AccentureRSRCH
Why innovation needs more governance
Dr. Vedrana Savic
Managing Director, Thought Leadership
Accenture Research
vedrana.savic@accenture.com
Paul Daugherty
Chief Technology & Innovation Officer
Accenture
paul.r.daugherty@accenture.com
Kevin Millan
Senior Principal, Thought Leadership
Accenture Research
kevin.millan@accenture.com
Paul Nunes
Global Managing Director, Thought Leadership
Accenture Research
paul.f.nunes@accenture.com
Acknowledgements
The authors would like to thank Koteswara Ivaturi, Victor
Ekpu, Himanshu Patney, Dave Light and Paul Barbagallo
for their work and contributions to this report.
About Accenture Research
Accenture Research shapes trends and creates
data-driven insights about the most pressing issues
global organizations face. Combining the power of
innovative research techniques with a deep
understanding of our clients’ industries, our team of
300 researchers and analysts spans 20 countries
and publishes hundreds of reports, articles and
points of view every year. Our thought-provoking
research—supported by proprietary data and
partnerships with leading organizations, such as MIT
and Harvard Business School—guides our
innovations and allows us to transform theories and
fresh ideas into real-world solutions for our clients.
www.accenture.com/research
About Accenture
Accenture is a leading global professional services
company, providing a broad range of services and
solutions in strategy, consulting, digital, technology and
operations. Combining unmatched experience and
specialized skills across more than 40 industries and all
business functions—underpinned by the world’s largest
delivery network—Accenture works at the intersection
of business and technology to help clients improve their
performance and create sustainable value for their
stakeholders. With 482,000 people serving clients in
more than 120 countries, Accenture drives innovation to
improve the way the world works and lives.
Visit us at www.accenture.com.
Copyright © 2020 Accenture.
All rights reserved. Accenture and its logo are registered trademarks of Accenture.

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Innovation Portfolio Management and Governance | Accenture

  • 2. Our research reveals that innovation investments and application across portfolios are increasing Companies are expanding innovation spend and spread Investments in innovation are expected to increase 1.8x in the next 5 years. Companies are embracing both incremental and non-incremental innovation across their entire portfolio of businesses.
  • 3. To assess how companies apply innovation across their businesses we leveraged the Portfolio Innovation Model Portfolio Innovation Apply incremental and non- incremental (breakthrough and disruptive) innovation across businesses of all maturity levels (legacy, growth and emerging) INCREMENTAL INNOVATION Enables small improvements or extensions to existing offerings BREAKTHROUGH INNOVATION Enables new product or service variations, using a new technology DISRUPTIVE INNOVATION Enables an entirely new offering to address an unmet need EMERGING BUSINESSES The most nascent ventures; new business models, yet to be scaled GROWTH BUSINESSES Experiences strong market demand; based on differentiated offerings LEGACY BUSINESSES The oldest, most mature, businesses; provide steady cashflows BUSINESS MATURITY LEVELS INNOVATION TYPES
  • 4. Companies tend to innovate for longevity or for balance The vast majority of companies manage innovation according to the shape of today’s business of companies innovate for longevity today, dedicating the lion’s share of innovation investments to their legacy businesses. of companies innovate for balance today: most of their innovation investments flow to their growth and emerging businesses. 26% 74%
  • 5. What is the shape of your portfolio today? 62% 24% 14% MATURE PORTFOLIO Companies that generate 50% or more of their revenues from legacy businesses today 37% 38% 25% INVESTMENT STRATEGY: BALANCE Majority of innovation investments flow to growth and emerging businesses Note: Total Sample N=1,090. Mature portfolio companies N=802 (74% of the total). Balanced portfolio companies N=288 (26% of the total). Percentages represent average revenue generated for each portfolio business for each cluster. The median value shows a similar distribution. Source: Accenture Portfolio Innovation Survey, 2019 Emerging businesses Growth businesses Legacy businesses INVESTMENT STRATEGY: LONGEVITY Majority of innovation investments flow to legacy businesses BALANCED PORTFOLIO Companies that generate more than 50% of their revenues from growth and emerging businesses today Two portfolio models, two investment strategies
  • 6. 42% 34% 23% 20% Intensify non-incremental innovation Intensify incremental innovation Intensify both non-incremental and incremental innovation Business as usual Percentage of companies expecting double digit growth in their legacy businesses Knowing where to intensify innovation is key Note: Mature portfolio companies are those that generate >=50% of total revenue from their legacy businesses. Sample N = 802. Double digit growth is >=10% CAGR in the next 5 years. Source: Accenture Portfolio Innovation Survey, 2019 Expected impact of innovation type on future growth in the legacy business ~2X For mature portfolio companies, non-incremental innovation in legacy business holds the biggest growth promise 50% 40% 30% 20% 10% 0%
  • 7. 13% 9% 30% 7% Intensify non-incremental innovation Intensify incremental innovation Intensify both non-incremental and incremental innovation Business as usual Percentage of companies expecting double digit growth in their newer businesses Innovating for balance calls for a more pervasive approach Double digit growth in newer businesses requires intensive adoption of a broad set of innovations for balanced portfolio companies Note: Balanced portfolio companies are those that generate <50% of total revenue from their legacy businesses. Sample N = 288. Double digit growth is >=10% CAGR in the next 5 years. Source: Accenture Portfolio Innovation Survey, 2019 Expected impact of innovation type on future growth in the newer businesses 2.3X 50% 40% 30% 20% 10% 0%
  • 8. We examined how innovation is and will be governed 84% of companies say that they are taking a more centralized approach to directing innovation. Most companies know that their innovation investments must be managed proactively…. … yet most companies govern innovation haphazardly today. Our hypothesis: the more widespread innovation becomes, the stronger governance it will need Only 12% of companies govern innovation extensively today.
  • 9. 12 Governance rituals enable innovation Our research found that companies are better able to turn innovation investments into growth when they follow these 12 governance rituals. 1. Put innovation at the center of corporate strategy 2. Actively communicate innovation agenda 3. Actively build a culture of innovation 4. Everyone generates ideas to improve existing offerings 5. Diverse team of experts generates Ideas for brand new offerings 6. Identify disruptive Ideas with the help of tech partners 7. Experimentation investments made as part of budgeting lifecycle 8. Experimentation investments are funded gradually 9. Experiments are conducted by an innovation lab/digital factory 10.Scale with technology partners 11. Scale with talent partners 12.Scale through an innovation lab/digital factory Inspiration Ideation Experimentation Scaling
  • 10. 80 90 100 110 120 130 140 150 160 170 180 190 200 2013 2014 2015 2016 2017 2018 2019e 2020e 2021e 2022e 2023e Revenue growth and commitment to innovation governance Revenue Trajectory (Past: 2013-2018 and Future: 2019 to 2023 Estimated); (2013 = 100)*** Sample: N= 881 Note: * Extensive innovation governance: adoption of 6-12 rituals (133 companies remain in this group in the future). ** Selective innovation governance: adoption of <6 rituals (206 companies remain in this group in the future). 748 companies expect to switch from selective to extensive innovation governance in the future. *** Normalized revenues for 2013-2018 were obtained by first adding the revenues of all companies in the respective cluster, and then equating the sum for 2013 to 100. Future revenue CAGR was estimated using projected overall revenue growth rates between 2019-2023. Sources: Accenture Portfolio Innovation Survey, 2019, Capital IQ, Accenture Research Analysis 5.9% CAGR Revenue trajectory of companies adopting *extensive innovation governance (past and future) Revenue trajectory of companies switching from **selective innovation governance (past) to *extensive innovation governance (future) 7.2% CAGR RevenueTrajectory 6.5% CAGR 100 2.9% CAGR More is more Companies that govern innovation extensively delivered 2x revenue growth compared to those following a haphazard approach
  • 11. Looking ahead Choose your portfolio model and investment strategy Govern innovation to grow Mature Portfolio Investment Strategy: Longevity If you expect to generate 50% of revenues or more from your legacy businesses in the next 5 years, and that is where strongest growth is expected… Balanced Portfolio Investment Strategy: Balance If you expect to accelerate revenue generation from growth and emerging businesses in the next 5 years… …get more disciplined in the way you experiment with and scale new ideas, especially those that rely heavily on new technologies. …get more disciplined in the way you generate and test new ideas. Look outside your organization for disruptive ideas with the right partners. Source: Accenture Research Analysis
  • 12. About the research In order to better understand how portfolio companies approach innovation, how they allocate innovation investments across different businesses and how they manage those investments, we structured our research in three phases: 1. 20 in-depth interviews with corporate, non- corporate and academic innovation experts 2. Phone-based survey with senior executives from 1,090 companies above $1 billion in annual revenues 3. Financial analysis on revenue growth for the 1,090 surveyed companies 11 industries Automotive Banking Chemicals Communications & Media Consumer Goods & Services Energy Health High Technology Life Sciences Software & Platforms Utilities Organization Level 56% 25% 8%11% 0% 10% 20% 30% 40% 50% 60% US$1-9 Billion US$10-29 Billion US$30-49 Billion US$50 Billion or more ANNUAL REVENUES Australia, Brazil, Canada, China, France, German, India, Italy, Japan, Netherlands, South Africa, Spain, Switzerland, US, UK 15 COUNTRIES 20% C–suite 16% VP/Director 64% Senior Manager Functional Area 4% Innovation 6% Research and Development 23% Strategy 26% Marketing 41% Operations
  • 13. Tell me more www.accenture.com/portfolioinnovation Join the conversation @AccentureRSRCH Why innovation needs more governance Dr. Vedrana Savic Managing Director, Thought Leadership Accenture Research vedrana.savic@accenture.com Paul Daugherty Chief Technology & Innovation Officer Accenture paul.r.daugherty@accenture.com Kevin Millan Senior Principal, Thought Leadership Accenture Research kevin.millan@accenture.com Paul Nunes Global Managing Director, Thought Leadership Accenture Research paul.f.nunes@accenture.com Acknowledgements The authors would like to thank Koteswara Ivaturi, Victor Ekpu, Himanshu Patney, Dave Light and Paul Barbagallo for their work and contributions to this report.
  • 14. About Accenture Research Accenture Research shapes trends and creates data-driven insights about the most pressing issues global organizations face. Combining the power of innovative research techniques with a deep understanding of our clients’ industries, our team of 300 researchers and analysts spans 20 countries and publishes hundreds of reports, articles and points of view every year. Our thought-provoking research—supported by proprietary data and partnerships with leading organizations, such as MIT and Harvard Business School—guides our innovations and allows us to transform theories and fresh ideas into real-world solutions for our clients. www.accenture.com/research About Accenture Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 482,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com. Copyright © 2020 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.