Are you among the most highly innovative organizations? Staying on top is about more than just beating the competition. It is about continuously moving forward while you shape the future.
Innovation drives economic growth. The most innovative companies understand the importance of developing solutions that solve critical problems. In 2021, approximately $600 billion will go toward research and development in the U.S. alone.
This is more than another other country is targeted to spend and is responsible for the U.S. ranking third on the Global Innovation Index.
There are several traits that promote innovation. Knowing which ones your organization possesses will help you build upon your strengths and improve your weaknesses.
Measure Your Innovation Health
The Innovation One Health Index provides a snapshot of your organization’s innovation health. A more robust tool is also available to measure and manage your innovation culture.
Innovation One and IdeaScale have developed a six-question survey to help you assess your organization’s innovative capabilities. This research will help businesses improve their overall innovation culture and advance best practices.
Characteristics of Innovative Organizations
Developing the right characteristics will place you high up in the list of innovative organizations. Adopting change ensures you will remain competitive.
As an organization leader, you know the risk that comes with creativity. When determining the likelihood an idea will be successful, you need to consider it from all perspectives. Assessing this risk leads to new discoveries and well-thought-out decisions.
Organization leaders should always be open to new ideas. Though not all of them will be adopted, they should at least be considered.
Encourage team members to share ideas. Explore these ideas even if they seem radical. Sometimes the most unlikely candidates become the most successful innovations.
Showing an openness to new ideas promotes a positive innovation culture. Innovation statistics reveal companies who develop business and innovation strategies are expected to grow 30% faster than companies who do not. Openness inspires others to share ideas and become fully involved in the innovation process.
Organization leaders should perform all job duties with confidence. Regular change means constantly exploring the unknown. Though new territories can cause anxiety, remaining confident is crucial to identifying new opportunities.
Innovative organizations are led by action-oriented people. These leaders willingly become involved in the action. They actively participate in all innovation efforts and encourage team members to share ideas.
Action is exciting to these leaders. They thrive on change that results in innovation. Their overall goal is to improve the organization.
Innovation should come from everyone in the organization. Encourage all employees to collaborate. Look outside the company for ideas and keep an open mind about how to implement them.
Appoint an innovation leader to foster collaboration and encourage open conversations. This ensures ideas are shared regularly.
Observe what is happening in your organization. Pay attention to patterns and details. This will help you assess problems and find the best solutions.
Take the innovation survey to find out if your company possesses these six traits. After taking the survey, register for a webinar scheduled for May 12 with InnovationOne’s Managing Partner Victor Assad. Learn how your company can improve your innovation and outcomes for each trait.
Want more ways to increase your innovation efforts? Request a Demo.