More than 15 members of largest Spanish companies held an in-depth discussion on success and failure factors in the area of brand innovations
Innovation is key to maintaining one’s competitive edge and organic growth in the long run as well as to overcoming the crisis. Oriol Iglesias Bedós, Academic Director of the ESADE Brand Institute and F. Xavier Lesauvage, Deputy Director for Innovation and Entrepreneurship at Esadecreapolis, presented the kinds of existing innovations and their impact on brand management within the framework of the workshop titled Making Brand Innovations Profitable.
Cosmetic, renovating and conceptual innovations are the three main kinds practised by companies. Iglesias and Lesauvage explained that this classification is useful for managing the portfolio of undertaken innovations because it helps to focus the strategy of company positioning in terms of innovations.
Lesauvage explained that the kind of innovation is preconditioned by the corporate culture, strategies, best practices and tools. Besides, both speakers agreed that organisational culture determines the type of leadership, processes and relations with the community.
According to Iglesias, the main factors that maximise the potential of innovations in a company include involvement of the top management, adequate compensation strategies, effective communication, training and evaluating the achievements throughout the innovation cycle. Rapportive