South African Businesses Ramp Up Innovation Investment

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Innovation,South Africa,Business Strategy

A new report reveals that South African businesses are increasingly investing in innovation, driven by the recognition that it's key to success. The 2024 Digital Innovation Index, developed with EY-Parthenon, highlights how companies are embedding innovation into their strategies and leveraging both internal strengths and external expertise to overcome talent shortages.

Investing in innovation has become a key determinant of business success. As such, innovation must be embedded into broader business strategies.for 2024, which was released at an event in Cape Town yesterday.

“The report findings show us that pursuing innovation in large corporates is hard,” she says. But it isn’t impossible. In response to this, a considerable number of respondents are partnering with experts to bolster their internal capacity and execute innovation projects more successfully.

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