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Shaping Companies Innovative Culture

Shaping Companies Innovative Culture

For most of us, innovation is a central foundation supporting our ability to deliver the business results that are expected over the medium to long term. While “Innovation” appears quite often in our list of Company Values, Missions, and even slogans, building an innovation culture requires even more than buy in from the head office. In fact, it’s the alignment, belief and behavior at the execution focused levels of the organization that can really drive the innovation culture in our Companies and teams. This report provides a general framework to use in thinking about the elements of our innovation culture, from our business strategies, to the physical environment we create in our daily work.

Defining the word innovation in a specific business context can be challenging for a leadership team.  In our experience, there are many different ideas around the table.  For some, innovation is a brilliant idea or a “eureka” moment.   For others, it’s a combination of insights, business processes, and execution that delivers a specific business result (like revenue).   Spending some time on the front end discussing this definition of innovation for the business purpose can be very useful and time well spent.   Note that the definition of innovation can be different for different businesses and business teams.  Just as strategies can and should be different, so can definitions of things like innovation.   What does your business need most?   Perhaps incremental innovation to drive core portfolio growth; perhaps productivity improvements to support strong growth that already exists and maximize profitability…  there is not wrong answer to this question.

With that in mind, there this report briefly describes various types of innovation.   Some of these could be sequential, but most of us practice a few different types within the same organization.   Understand these types and what you want in your business can help you define an innovation strategy that supports the target.

There are also various levels of innovation that organizational cultures often progress through as they mature over time.   Some organizations develop a specific innovation maturity model to help drive this progress.  Other mature naturally, and still others stay at one level for many years, depending on the needs of the business.  Understanding where and how your organization needs to develop can help you deliver more results through your innovation efforts. …Read more