A positive attitude to risk is vital

In each of these examples innovation in new technologies, products and processes is combined with radical change to a business model and novel market positioning. Not easy, but transformational if you can pull it off.

A recent report by the CBI and QinetiQ found that company culture and market forces are the two main drivers of innovation in the services sector. Having a positive attitude to creativity, risk and failure is vital, and firms that are always willing to learn are also the ones most likely to succeed.

Culture is a real challenge facing many organisations, and service innovators place a strong emphasis on creating the right environment for innovation and risk. But the approaches to this are diverse, from focusing on innovation and service improvement targets, to being more relaxed about these while making the company one of the best places to work.