You can’t go an entire commercial break during the World Cup or a State of the Union address without hearing the word innovation pop up at least once or twice. Companies have added innovation to their company values and mission statements in accelerating numbers.
Innovation sounds easy, but it is not. The majority of enterprises report dissatisfaction with innovation performance. Three quarters of the CEOs of multinationals view external collaborative innovation as vitally important, but only half do it, and those only rate themselves as doing it ‘moderately well’. And remember - two thirds of organizational ‘change’ efforts fail. In case you are now asking yourself, why are these odds that low – we have a straightforward answer. It’s just one word.
Organizations, embracing innovation, have taken the seemingly logical step of designating people to help “foment a culture of innovation.” Enter the chief innovation officer.
Innovation can take on many forms. From ideas sourced from a single individual or event to massive projects that require the effort of an entire team, multiple departments and various thought leaders, excellence often stems from collaboration. As a business leader or manager, are you taking the steps today to foster this collaboration for best results?
As Innovation Program leaders look to expand their scope and influence across complex, global organizations, they are turning to the development of Employee Innovation Networks. This article examines what these networks can look like, and provides some high level overview of the value that they can generate.
Innovation is the mantra in leadership these days. Isolated innovation efforts abound. Still, most likely, your innovation program will fail, as many do. Not because you’re incapable of good innovation or because you’re lacking a mandate, but because you’ve probably overlooked some fundamental pre-requisites. Don’t worry, we have good news.
Nothing is more constant than change. Furthermore, the speed of change is accelerating. So for instance, the global knowledge is growing exponentially, disruptive megatrends (e.g. Internet Of Things, urbanization, demographic shifts) are shaping the innovation agendas and new approaches for capturing value by innovation (e.g. Business Model Innovation, Design Thinking) are becoming mainstream. Thus, new realities for innovation management are emerging and firms are forced to change their innovation management ever faster.
Nothing is more constant than change. Furthermore, the speed of change is accelerating. So for instance, the global knowledge is growing exponentially, disruptive megatrends (e.g. Internet Of Things, urbanization, demographic shifts) are shaping the innovation agendas and new approaches for capturing value by innovation (e.g. Business Model Innovation, Design Thinking) are becoming mainstream. Thus, new realities for innovation management are emerging and firms are forced to change their innovation management ever faster.
A company will always follow its leaders, but what influence do they play on the company culture?
When you ask Executives what they want beyond short profit and revenue growth they’ll likely say ‘more innovation’. Why? Because they face unprecedented business challenges. Let’s look back. The current modern corporation was invented about 100 years ago – at the start of the 20th century. That’s when the big companies were born like the US railroad companies, US Steel, the big banks, IG Farben. Some exist still today (GE).
Real innovation will starts with your company culture. Your shared values will help your business grow while stale company culture can sink you entirely. Your company culture can change in subtle ways over time but there are many ways to keep your infrastructure on task and in line with your overall mission. Simply stated, a good company culture drives innovation.
Creative thinking can be trained, and an environment for innovation can be purposefully built. Often plagued by a sense of urgency and pressure the modern office does not appear to be the ideal incubation opportunity for innovation – and yet there are strategies that can be used to defy the odds. So just how do we maximise the brain’s neurological capabilities in the midst of the busy contemporary working environment?
In the previous two whitepapers of this series we examined both the benefits of innovation training and areas of innovation skills that mid-to-junior level employees can be taught. In this installment we will address an important topic that is often missing from innovation training / education programs: How to build effective employee networks that support employees who have been trained with new innovation skills.
In its research report “CEO Challenge 2014, ”[1] The Conference Board lists the ten most important challenges facing CEOs in 2014. Innovation ranks N°3 in this survey of 1,020 responses, on a par with operational excellence. Innovation was the N°1 issue in 2012, and in 2014 it is still the N°1 challenge in China. This article (in a series of seven) looks at the theme of innovation governance from a top management angle.
The first whitepaper in this series focused on the benefits generated from training employees in innovation skills. A natural extension of that approach is to now focus on what innovation training really means to an organization. In other words, what actually is innovation training, and more importantly, can innovation be learnt?
