Many executives want their companies to be more innovative. A new assessment tool can help pinpoint your company’s innovation strengths and weaknesses.
Everyone wants an innovative corporate culture, but how do you develop one?
This article posits that the ability of a culture to support innovation depends on six key building blocks: values, behaviors, climate, resources, processes and success.
Values drive priorities and decisions, which are reflected in how a company spends its time and money. Behaviors involve how people act in the cause of innovation. Climate is the tenor of workplace life. An innovative climate cultivates enthusiasm, challenges people to take risks within a safe environment, fosters learning and encourages independent thinking. Resources are comprised of three main factors: people, systems and projects. Of these, people — especially “innovation champions” — are the most critical, because they have a powerful impact on the company’s values and climate. Processes are the routes innovations follow as they are developed. Finally, the internal and external success of an innovation drives many actions and decisions that may have an impact on the next one: who will be rewarded, which people will be hired and which projects will get the green light.
The article also includes a 54-element test developed to enable managers to assess a company’s “Innovation Quotient.” Over the past three years, more than 1,000 employees in 15 companies around the world have taken this assessment. A case study in the article outlines the experience of a Latin American company with the assessment tool.