Over Half Of Australian Business Leaders Not Ready To Innovate

Over Half Of Australian Business Leaders Not Ready To Innovate
SHARE
THIS



The majority of business leaders have revealed they are not prepared, nor have initiatives in place, to implement innovation in their company, according to a recent survey of Australian business leaders.

The survey, conducted by Squiz, the Australian company powering digital transformation for its clients, surveyed 150 Australian business directors, owners, and senior managers across 10 different sectors.

The results highlighted only 45 per cent of business leaders said their business is ‘very receptive’ to innovation while 10 per cent said they are ‘not very’ or ‘not receptive at all’. Furthermore, just over a third (37 per cent) think their company is currently taking advantage of the way the digital world is moving.

In the same survey, 56 per cent of respondents claimed innovation through digital is the key to keeping up with competitors and driving business forward in the 21st century, highlighting the disconnect between business leaders’ aspirations and their actions.

“Results like this shed light on the slow pace at which Australian are businesses responding to the changing digital landscape,” said Robin Marchant, global marketing director of Squiz.

“While most businesses aren’t innovating, there’s an obvious understanding that they need to be. We need to start walking the walk when it comes to adopting digital technologies to remain competitive.”

When asked if their business models have changed within the last 10 years, 15 per cent recorded no change at all, suggesting there is still a significant portion of Australian businesses failing to adapt to changes in the technology and business landscape.

“How businesses operate has dramatically changed in the last 10 years. For so many respondents to admit they’ve failed to alter their business model in the last decade is astounding. The rapid pace of change the digital landscape has endured in the past 12 months alone is evidence enough that agility is a key requirement for businesses hoping to survive in the ever-evolving 21st century,” continued Marchant.

“Businesses that are agile and constantly adapting to customer needs will witness innovation as a natural part of their company model, rather than those that oppose change and try to fit so-called innovation into dated processes and products.”

 

Please login with linkedin to comment

gag brochures robin marchant

Latest News

Leadership, Humanity, Technology – The Sweet Spot
  • Media
  • Technology

Leadership, Humanity, Technology – The Sweet Spot

The SingularityU Australia Executive Program will take place this may, celebrating leadership at the intersection of the values of humanity and the value of technology. The Elon Musks, Apples and Xeros of the world are taking risks for humanity and creating new  technologies that streamline and beautify business operations. They simplify life by providing basic […]

by B&T Magazine

B&T Magazine
OMD Alumnus Launches Specialist Media Agency For The Franchise Sector; TFM Digital
  • Marketing

OMD Alumnus Launches Specialist Media Agency For The Franchise Sector; TFM Digital

Brisbane media professional and former OMD Australia Account Director Taylor Fielding (pictured) has officially launched TFM Digital. TFM Digital is a specialist media agency based in Newstead which primarily provides media buying services, and strategy development, to businesses chiefly, but not exclusively, within the franchise sector. Prior to the launch of TFM Digital, Fielding spent […]

FutureFeed Appoints Five By Five For Global Launch
  • Media

FutureFeed Appoints Five By Five For Global Launch

Launch marketing specialists Five by Five Global have been appointed by FutureFeed to develop their brand, international certification trademark and go to market strategy. The innovative livestock feed ingredient developed by CSIRO, Meat and Livestock Australian and James Cook University uses a specific genus of seaweed, Asparagopsis, which significantly reduces methane emissions in ruminant livestock. […]

SKMG’s Andrew Knowles Snares B&T’s 30 Under 30 For PR
  • Marketing

SKMG’s Andrew Knowles Snares B&T’s 30 Under 30 For PR

Andrew Knowles, partner and co-founder of the corporate communications consultancy Shoebridge Knowles Media Group (SKMG), has won the PR category in the 2021 B&T 30 Under 30 Awards. Knowles received the award at a ceremony in Sydney last night, claiming victory in a highly competitive field that included leading executives from some of Australia’s biggest […]

MELBOURNE, AUSTRALIA - APRIL 14: Jack Viney of the Demons and Mitch Wallis of the Bulldogs pose for a photo during the Theragun & AFL Partnership announcement at AFL House on April 14, 2021 in Melbourne, Australia. (Photo by Dylan Burns/AFL Photos)
  • Marketing

AFL Names Therabody As Its Official Recovery Partner

The AFL is delighted to welcome Therabody as its Official Recovery Partner of the 2021 Toyota AFL Premiership Season. Therabody’s industry-leading devices and research will be integrated into pre-match training and post-match recovery routines to help prevent injuries and help improve overall athletic performance. Therabody will also become the naming partner for the end-of-season AFL […]