Yesterday CIO UK published an article about an SAP survey that highlighted the current innovation deficit in IT companies. In the simplest terms the article boils down to this, innovation is the last priority to get funding or focus but yet it seen as a critical driver of corporate performance. Earlier I wrote about how public companies have a “quarterly focus” and it seems that private companies are suffering from a similar affliction.
What is interesting about this survey is that 48% of respondents cited the economic uncertainty as the primary reason for investing in technology. That rational is remarkably short term. After all, staying in business tomorrow entails offering more than you do today but yet there appears to be little attention given to long term efforts. The only good news, from a competition standpoint, is that those which are focusing long term results will really accelerate “out of the turn” and those which currently spend their days chasing fires will undoubtedly be a distant second.