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UK companies bogged down with ideas

Sometimes it's not coming up with good ideas that is the problem. FTSE100 companies are investing heavily in creating new business ideas but are having a hard time killing off poorer ideas.

A survey by growth and venturing company Edengene found that 89% of large UK companies are under investor pressure to deliver more growth and in response to that pressue, investment in organic growth, innovation and venturing is increasing - 79% are already investing substantially and 82% expect to invest as much or more in the future.

But that investment is requiring faster and faster innovation - at a price. About 80% say their products and services require frequent re-engineering to stay competitive while only 55% say their products and services are clearly differentiated.

Edengene's head of consulting Rob Anderson says: "More clearly means less when it comes product and service innovation. New products are crowding out the fundamentals, such as clear differentiation and response to customer needs. This suggests UK businesses lack the ability to spot real winners and the confidence to focus on these fully."

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