The study is unique in its focus on insights on product/service innovation as it relates to companies serving the modern electric power industry. While the majority of the 55 survey participants are from North American organizations, there is some representation from international companies as well.
The participants in this study are from product planning and research units of large and very large manufacturers (35 participants), along with R&D officials from five major North American utilities and 15 officials from engineering consultancies and equipment testing organizations.
2. Executive Summary
3. Survey Findings
- How would you best describe your job?
- How does your company define “innovation”?
- How does your company tend to innovate? (check all that apply)
- Does your company have a written innovation strategy?
- Does your company consider other departments under Innovation than the typical Research & Development groups?
- Does your organization make a split between Research versus Development?
- What % of your company’s annual revenue is spent on R&D?
- To encourage innovation: what % of a typical week is allowed to work on “the next big thing”?
- Is there a formal process in your company to manage new ideas?
- If there is a formal process in your company to manage new ideas, what is the process?
- What percentage of ideas eventually become products?
- From where do you get product innovation ideas? (check all that apply)
- What made you successful in innovation efforts? (Check all that apply)
- How do you motivate your people? (check all that apply)
- How do you launch your new product? (check all that apply)
- What would be useful for your R&D process? (check all that apply)
- Are there any other experiences you can share that are useful to improve innovation?
4. Companies Participating in the Survey
Companies that participated in the survey:
- Cleaveland/Price Inc.
- CSA Group
- DEKRA Certification
- DNV GL KEMA Laboratories
- Doble Engineering Company
- Emerson Automation - IntelliSAW
- FirstPower Group LLC
- Furukawa Electric
- G&W Electric Company
- HICO America
- Hubbell Power Systems, Inc
- Intertek PLC
- Meramec Hubbell Power Systems
- Mitsubishi Electric
- Myers Controlled Power
- PCORE Electric Company, Inc.
- POWER Engineers
- Power Projects Leufkens
- Powertech Labs
- S&C Electric Co
- Salt River Project
- Schneider Electric
- Southern Company Services
- Tennessee Valley Authority
- The Durham Co
- Western Electrical Services
- Xcel Energy