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Creativity generates Ideas. Ideas generate Innovations. Innovations generate New Products
Creativity generates Ideas. Ideas generate Innovations. Innovations generate New Products
Culture Matters:
The particular Innovation strategy a company employs will succeed only if it is
supported by the appropriate cultural attributes. Poor innovation performance is
usually not caused by a lack of ideas or lack of aspirations. What some companies
lack is the structure (Culture) needed to effectively dedicate resources to innovation.
A survey by Booz & Company on Top Innovation goals and Top Cultural Attributes
from 600 Innovation leaders concludes to,
Organizations also has to ensure that the innovation agenda translates into a
tangible action plan, clearly linked to a short, focused list of capabilities that will allow
you to stand out in the marketplace.
Strategies for Creating Innovation culture
There are three strategies to nurture a culture of innovation: Envisioning,
Communicating and Sponsoring.
Envisioning:
It is defining a vision of the ideal future state for an organization that is creative,
unique, compelling and worthwhile. Listen broadly for ideas through vision,
innovation, and external networks. Listen to the customer. Understand who your
actual and potential customers are, what they want, what they will need, and why
those needs have not yet been met. Develop cross functional innovation teams to
Creativity generates Ideas. Ideas generate Innovations. Innovations generate New Products
address the problem. Diversity of professionals staring at the same problem will
spark ideas that are unique.
Communicating:
Formal communications certainly play a key role in driving culture change, fostering
a
culture
of
innovation
means
also
becoming
familiar
to
the
informal
Creativity generates Ideas. Ideas generate Innovations. Innovations generate New Products
8. 25 percent rule: Each division shall produce 25 percent of annual sales from
new products and services introduced in the previous four years.
9. Offering employees the opportunity to lead and participate in high-profile
innovation initiatives.
10. Making Innovation thinking a natural habit through Collaborative innovation
activities including setting up innovation contests and prizes.
11. Idea Improvement Program: Openness to new ideas from employees,
customers, suppliers, competitors and other industries.
12. Invite current and potential customers every year to see what Innovation
Factory is working on and work directly with some customers on Customer
co-innovation projects
13. Accept that mistakes will be made. Learn from the mistakes quickly and move
on. Failures are part and parcel of what creates new innovation.
14. Collaborative design: Creating an innovation ecosystem by integrating
universities, R&D centers, technological platforms & developer communities
and attract best skills & partnerships from outside.
15. Having the right metrics to measure innovation progress and track ROI.
Conclusion:
Thus by clearly articulating Innovation strategy that is well aligned with Business
strategy, creating and supporting an idea evaluation framework and balancing dayto-day vs. long term goals, continually communicating the need for innovation as a
business focus, incorporating innovation reports into the business review processes
will make our organization to outperform in terms of management of the innovation
process and excel at developing new products that will succeed in the market.
Team Profile:
1.
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4.
References:
1
2
3
A Bay Area Council Economic Institute and Booz & Company Joint Report on The
Culture of Innovation Mar 2012
Booz & Companys annual study on Why Culture Is Key Strategy + business
magazine Dec 2011,
Creativity And Innovation In Business by Sanjay Dalal, May 2009
Creativity generates Ideas. Ideas generate Innovations. Innovations generate New Products