While many organizations claim to operate within a culture of innovation only about 1/3 of Fortune 1000 companies have formal innovation metrics in place. Lacking a measurement system does not mean the firm doesn’t value innovation. After all, unless you are 3M and making your living by bringing new inventions to market, measuring innovation can be a little like nailing jello to the wall.
Questions to ask:
- When people try new things and make mistakes are they celebrated or vilified?
- Have you lost valued talent from stifling creativity or empowerment?
- Are ideas from the rank and file pushed to the side citing lack of time?
- Do you have an open and transparent platform for collecting innovative ideas – one that encourages collaboration and maximizes the thinking power of the organization?
I’m a process oriented person – almost a conformist. I admire companies like McDonald’s for their efficiency and consistency through process. But I’m also highly creative. That means I’m open to changing processes in search of better results. I’m driven to find that magical balance between the need for efficient process and an appreciation for innovation.
“Corporate culture is, above all, the most important factor in driving innovation.” Rajesh Chandy, professor of marketing at the University of Minnesota’s Carlson School of Management and a charter member of the U.S. Department of Commerce’s Advisory Committee on Measuring Innovation in the 21st Century Economy