Bankwest Future of Business: Innovation Report

Innovation

19 October 2015

The Future of Business Series: Innovation Report has revealed that Innovation is considered a key growth ingredient by more than half of Australian mid-sized businesses. In line with this, the number who consider themselves a leader in the space has risen to 54.8% from 47.4% since the 2014 report.

The quest towards disruptive innovations (like Airbnb and Uber) is being assessed by 55.6% of mid-sized businesses. To get there, staff empowerment (34.1%), R&D (33.9%), innovation teams (33.1%) and corporate culture (30.6%) are key strategies being deployed.

Download the full report to learn more about the key innovations being worked on, along with HR and culture initiatives cited by mid-sized businesses, including valuable strategies your business could employ.

Report details

  • This report has been prepared by CoreData on behalf of Bankwest.
  • The research was conducted between August 13th and 26th 2015 via an online quantitative survey of approximately 50 questions, developed and hosted by CoreData.
  • CoreData’s proprietary panel of more than 132,000 Australian consumers was used to canvass the views of a specific target market – business leaders in the mid-market.
  • The sample is comprised of 507 respondents, including those in C-suite and senior management positions within mid-sized businesses.

Targeted businesses

  • The targeted businesses met the following criteria: Annual turnover of between $5 million and $250 million.
  • From the following industries: accommodation, Asian banking, education and training, retail trade, professional services, light manufacturing, wholesale trade, financial and insurance services (excluding Asian banking), property & business services, franchising, pharmaceuticals, transport, health, child and aged care (NSW, VIC, QLD and SA only), not-for-profit (WA only) and agriculture and forestry (WA only).

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Future of Business
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