Strategy Paper: Automotive-Supplier Innovation
In the era of electrification, digitalization, and connectivity, the automotive supplier industry is facing more strategic challenges than ever before. To survive in the transformation and stay the best in class, it is no longer sufficient to simply focus on exploiting existing business and trigger efficiency. Automotive suppliers must identify a way to manage the present but also shape the future; a way to cope with business ambidexterity with the ability to both exploit mature business and explore disruptive innovations. To better understand the innovation landscape in the automotive supplier industry, Porsche Consulting conducted an online survey with C-level executives of global automotive suppliers across all segments. As the first call for action, this Strategy Paper provides automotive suppliers with a holistic yet pragmatic framework to establish a successful innovation system. Furthermore, Porsche Consulting harnessed its practical experience to develop a CEO master plan with ten key success factors that ensures successful implementation and sustainable execution.