developing a best-in-class innovation enterprise
TRANSCRIPT
Developing a Best-In-Class
Innovation Driven Enterprise
Best-In-Class are Proven Performers
• Every Best-in-Class Innovation Enterprise Must
Develop “the Fertile Ground” for Innovation to
Grow & Thrive
• This begins with an Assessment of how your
company performs versus other companies and
peers on The Ten Critical Innovation Drivers
The 4 P’s of innovation (Mel Rhodes1960/ Osborn-Parnes 1950)
Place: Ensure a team work climate supports idea
development.
Person: How to optimize diversity.
Process: The stages we work through to produce
creative outcomes.
Product: Define desired innovation outcomes.
The 10 Critical Factors for an Innovation-Driven
Enterprise comprise the
“Wheel of Innovation”
What are the Critical Questions?
ORGANIZATIONAL VISIONDoes the organization have a clearly spelled out vision for the company? Is the vision of the company translated through tools and processes that are in place and are practiced throughout the company?
MEASUREMENT AND METRICS Does the organization employ metrics to measure the results of the innovation efforts & is there at least one system in place to evaluate ideas if it is working effectively.?
HIRING PRACTICESDoes the organization have hiring practices that specifically target individuals who are creative & bring innovative ideas to the company?
REWARDSDoes the organization have rewards in place to encourage employees to be innovative? And do the employees understand what the payout is when they expand their creative energy?
DEDICATED BUDGETS FOR INNOVATIONAre the budgets used throughout the organization designed to allow for innovation practices?
What are the Critical Questions?
INNOVATION INITIATIVES
Are innovation initiatives systemic and are they expected & encouraged at all levels of the organization?
SATISFACTION WITH RESULTS
Is there general satisfaction with the results of the innovation practices the organization employs?
LEADERSHIP’S SUPPORT
Does the CEO/President support a culture of innovation throughout the entire organization & looks for ways to make new ideas flourish?
CULTURE SUPPORT
Does the corporate culture support all innovation and permit reasonable risk taking?
OPEN COMMUNICATIONS
Does the organization have a process for open and transparent communication and feedback on all aspects of the innovation process?
An online survey
Finding the Answers
• Best-in-Class Innovation-Driven Enterprises will do well on the 10 Factors• But where does your company stand on the critical Innovation Drivers?
Introducing the “Innovation Assessor”
Developed via Bloomberg/Business Week and Coles Center for Innovation at Kennesaw State University
A Series of 32 questions administered via online survey requiring <= 10 minutes to complete
These questions all merge into the 10 Key Factors.
Administered across departments to key employees with at least 70% having known “touch points” to the company innovation process & pipeline.
Sample usually in the hundreds & participation strongly encouraged by senior management
Plans and Development
Phase 1
• Initial “Innovation Assessor” Survey
• Review Results, Initial Assessment
Phase 2
• Set Target Objectives
• Develop Remedial Plans & Training
Phase 3
Etc.
• Tracking Net Innovation Promoter Score
• Continue Plan of Ongoing Improvement
Discovering Enterprise Strengths & Gaps
0
1
2
3
4
5CEO
Communications
Hiring Practices
Vision
Systemic
Metrics
Rewards
Budget
Satisfaction
Culture
Enterprise Ratings v. Norm
Norm Company
0
5
10
15
20CEO
Communications
Hiring Practices
Vision
Systemic
Metrics
Rewards
Budget
Satisfaction
Culture
Enterprise Top 2 Box v. Norm
Norm Company
And the Enterprise Group Ratings to Norms
0
5
10
15
20
25
Enterprise Group Top 2 Box Ratings v. Norms
Norm Company R&D Group Marketing Operations
Leading to Detailed
Enterprise-Level Positions
Senor Mgmt Encourages Innovation
My Manager encourages innovation
Budgets for Innovation
Clear processes for Innovation
Sr. Mgment Supports Innovation
Culture of innovation
Innovation Metrics
Employees allowed to take Risk
Innovation Success is Documented
Mid Managers can budget innovation
Team collaborations on
Innovation
Promoted for Innovation Ideas
Innovation rewards & incentives
Employees empowered for Innovation
Innovation Assessor Department Perceptual Map
Metrics & Tools
Rewards Innovation
Management SupportCompany Innovation Goals clear
Org. Hires Innovators
Company attracts innovative people
Mktg InsightsBus. Strategy
R&DFinance
Operations
Sales
Executive Officers
Clear criteria to eval. innovations
Innovation Culture
Satisfied with Org Innovation
Innovation Satisfaction
Systemic New Innovation Initiatives
Continuous empowerment to support new initiatives
Hiring Practises Support Innovation
Does not penalize new ideas
Marketing
San Diego Office
NY Office
Atlanta Office
Best-in-Class means a Culture of
Learning & Continuous Improvement
The Innovation Promoter Score (IPS)
(four key factor top 2 minus bottom 2 divided by 11)
-10
-8
-6
-4
-2
0
2
4
6
8
10
2016Q1 2016Q4 2017Q2 2017Q4 2018Q2 2018Q4
* *
*
*
*
-8.63
And a Plan which Charts the
Journey towards Best-in-Class