Best Practice Report

2008: Innovation Management Services Take Off

IT Consultants Armed With New Skills Can Boost Clients' Innovation Performance

March 3rd, 2008
With contributors:
Thomas Mendel, Ph.D. , Janine Liu

Summary

As the global economy softens in 2008, CEOs will strive to sustain their firms' competitiveness by innovating around their products, services, processes, and business models. To systematically drive such multifaceted innovation, CEOs need to revamp their firms' market-blind and insular R&D and go-to-market operations into globally networked, user-focused processes. Sensing an opportunity, strategy consultants like Booz Allen Hamilton and McKinsey & Company are gearing up to provide "innovation management services" to growth-seeking C-level execs. IT providers like Capgemini, IBM, and Wipro are equally well positioned to help their clients re-engineer their innovation processes — but, to win in this nascent market, they must first upgrade their soft skills and learn to infuse client intimacy into their engagement models.

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