As we come closer to the year-end it’s good to look back, make some dedicated time to take ‘stock’, in this case, on innovation’s progress. In a just released “The State of Innovation Management in 2015” that I have authored and kindly provided by HYPE for free, I believe you will find something of interest that you missed during a busy year, coming to a close. I certainly hope you will find time to go through it.
You’ll gain a valuable and quick insight into critical aspects that innovation managers and CINO’s should be aware of. It is in an easy format of thirty plus pages and offers a reference resource that builds a solid understanding of innovation today regarding relevant factors that will stimulate and support your innovation activity.
I often wonder if “best practice” is actually a hidden drug within our organizations that everyone simply craves to be taking.
Why do so many advisory organizations promote best practice? Simply because those in the organization constantly feel under pressure to demonstrate why they are falling behind or keeping ahead of their competitors.
They crave knowing best practices, but tell me what really is the best practice of others really achieving?
If you are behind, best practice informs you and you go into a frantic mode to try and catch up. By the time you have achieved the best practice, it is simply out of date as those practicing this have most likely moved even further on.
I highly value the studies that are undertaken by the larger consulting firms. They have the C-level access and geographical reach to give us some critical insights into the progress of innovation.
Recently Arthur D Little provided their latest innovation excellence study, its 8th Global Innovation Excellence Study, into what companies can do to achieve a better return on their investment in innovation management. The report can be downloaded or viewed here and outlines in their opinion what really works in terms of managing the innovation process.
They offer some good pointers and understanding of what differentiates top innovators within and across industries. It also suggests that it provides new insights into what companies can do to achieve a better return on their investment in innovation management. I think it does fall a little short on a depth to support and validate these claims in my opinion, but it does still provides sound insight.
They specifically attempt to focus on understanding what differentiates top innovators from other companies in different industries. Drawing on over 650 responses, the study sheds new light on the basic key question: what innovation management techniques are most important in achieving a better return on innovation investment? The results they suggest are important for any company that wishes to stay competitive. Continue reading →
Deloitte Touche Tohmatsu Limited (DTTL) have provided a set of interesting results from a survey of the world’s future leaders and what they think about innovation released for the World Economic Forum, January 2003
The top line was only 26% of those surveyedbelieved their current organizations leaders encourage the practices that foster innovation. This indicates a major shift really is needed in the organizational mindset to give innovation the chance to thrive.
The implications are nicely summarized by this statement from Deliotte’s Global CEO. “Innovation at the institutional level is needed to sufficiently shift an organization’s mindset to allow new ideas to truly emerge and thrive,” said Deloitte Global CEO Barry Salzberg. “While our current business leaders can debate how and where to innovate, it’s clear how much importance our future leaders place on innovation—not just as a driver of business growth but also as a catalyst for solving society’s most pressing problems.” Continue reading →