Innovation is key to succeed in the new normal. Yet, innovation must be balanced with the ongoing market pressure for competitiveness in cost, quality, and competences. This is one result from an industry survey which was conducted by Vector Consulting at year-end 2020. Obviously, all participants acknowledge the fast change speed during 2020 towards the new normal. Work is done online, while traveling will decrease. Agile is seen as a key success factor, yet with many risks. Our Vector white paper provides results from this industry survey. We have enriched results with survival tips in this new normal and an industry case study on open innovation in software and IT.