How do you set up innovation teams for success? And how can those teams create quantifiable impact for their organization?
We’re excited to unveil our annual “Benchmarking Innovation Impact” report, which is packed with 55 pages of data and insights to help you benchmark your innovation program. This year’s report includes intel and comps for your company on team size, reporting relationships, use of physical innovation spaces, common activities, budget dynamics, top innovation challenges and enablers, and more.
The report includes insights from executives at companies such as MasterCard, Colgate-Palmolive and NASCAR, and shows that innovation can survive if there is a clear vision; quantifiable metrics and outcomes; a culture that can make decisions and allot resources without getting embroiled in politics and turf wars; and strong relationships throughout the organization.
Simply fill out the form at right for a free PDF excerpt.
SNEAK PREVIEW: GETTING LEADERSHIP EXCITED ABOUT THE VISION
Perhaps the most useful two questions in our survey were about the factors that help innovation groups attract additional resources (money and people), and the key enablers of innovation success. The two factors that rose to the top of the list are that senior leaders are excited about the vision — likely because it aligns with strategic themes, or paints a picture related to future growth opportunities — and that you’ve demonstrated the ability to generate new revenues. The third factor to getting additional resources: the company’s overall financial health.
For several years now, we’ve asked a question about what underpins successful innovation, and leadership support consistently tops that list, followed by the ability to test, learn, and iterate, and assembling a team with the right mix of talent.
Another consistent response from our survey respondents: the strongest headwinds that innovators face in large organizations are politics, turf wars, and lack of alignment; cultural issues; and the inability to act on market signals crucial to the future of the business.