In its article, AtkinsRéalis considers the perception of innovation in consultancy, and questions if innovation really needs a separate business model – is it more than problem solving? How innate is innovation to organisations? Is it bound as an internal function, or can partners such as consultancies be seen as the source of innovation?
Innovation, as defined by MCA, involves introducing imaginative, original, and new principles, methods, or ideas to improve the established order. Another firm’s growth strategy categorises innovation into three main types to drive growth effectively:
- Efficiency driven (Horizon 1) – one-week, one-month, one-year changes to help organisations find efficiencies in cost, time or resource.
- Continuous improvement (Horizon 2) – medium to long-term changes, with a focus on services, products or processes that already exist but need to evolve to fully meet customer needs.
- Transformative (Horizon 3) – large scale changes that are typically disruptive to business models, markets or processes or could invent an entirely new service.
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