Industry Average Innovation
Maturity Level
Novice
Industry Average Innovation
Maturity Score
1.82 / 4.00
Least Developed Innovation
Ecosystem Pillar
Leadership & Management
ENERGY & UTILITIES
An exciting industry for the 21st century the Energy and Utilities industry seems to be ripe for change.
The industry sits at the crossroads of the current generation’s sustainability focus and global politics. However a lack of true innovation culture and an overemphasis on technology development at the expense of other forms of innovation such as business model or customer experience make changes in this industry slow.
As counterintuitive as it might seam, one of the richest industries struggles to make investments beyond optimizing the legacy core.
Based on OUTCOME’s pioneering work on measuring corporate Innovation Maturity, we’ve launched ‘AIM Individual’ – a single-person version of the enterprise-wide tool AIM, used to build The Global Innovation Maturity Index.
Innovation Maturity Summary
Strategy
It seems that companies in this industry don’t perceive innovation as being essential for markt success, therefore their innovation strategy (if even existent) focuses primarily on incremental technological improvements.
Leadership
Long term innovation apparently is given a secondary role on the leadership agenda – in companies in this industry – behind cost efficiencies of the core business.
Management
It seems companies in this industry find it difficult to translate the innovation strategy into clear and pragmatic objectives making the implementation of the strategy difficult.
Culture
It seems that in companies in this industry ideation is not a common behaviour and it happens rather sporadically. Employees rarely seem to come up with innovative new ideas outside a predefined setup.
Process
Apparently the process used for innovation by companies in this industry is ill adapted as it is only a copy of the process used in technological development. This has implication on the companies’ ability to do beyond-the-core or business model innovation.
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Download our Energy & Utilities Industry Maturity Report 2021.