German Business in China – Greater Shanghai Innovation Survey 2018/19
Over the next three years, does your Chinese entity expect an increase in …
Translating strategy into action
While 83% of surveyed manufacturing
companies see innovation among their top
three priorities, only 43% claim to have a welldefined
innovation strategy. Having a strategy
is crucial in that it helps to focus efforts around
objectives and priorities. Without a welldefined
strategy, companies risk misdirected
efforts and resources. The survey results
suggest a correlation between having a welldefined
innovation strategy and innovation
performance: while 65% of Top Innovators
have a well-defined innovation strategy, only
36% of their less innovative peers do.
One third of all surveyed manufacturing
companies indicate to follow well-defined
innovation processes. While 65% of Top
Innovators claim to have well-defined processes
for innovation, only 23% of the rest of the sample
do so.
Organizations with a well-defined strategy are
more likely to follow well-defined processes – 77%
of those with a well-defined innovation strategy
have clear processes for innovation in place, but
only 13% of those without a well-defined
innovation strategy.
23