Innovation is Not Serendipity or Discovery

Picture 2Last Friday’s cover of the Boston Metro proclaimed “ How recession is forcing creativity in entertainment.”
It’s an interesting article on how the current economy mixed with the advent of Web 2.0 is affecting the entertainment industry, but the title held a different appeal for me.

Serendipitously, I am working on IAI’s soon to be released whitepaper on Innovation Management. The whitepaper includes the results of a 180 respondent survey on how innovation is managed in the enterprise.

In line with today’s headline, it came as no surprise that 70% of those surveyed felt that the current economic conditions increased the perceived need for innovation in their organization. As is the case with much of the market research work we do however, the interesting findings came from cross-correlation and analysis across questions and responses. Despite “heightened need”, most organizations aren’t doing anything proactive about accelerating and nurturing innovation. While 68% stated their organization believed that innovation should be managed as a corporate asset and process, only 49% have put in place any formal process to manage innovation. Similarly, only 49% have any form of executive management presiding over innovation.  More shockingly, perhaps is the fact that 46% of the organizations do not specifically reward innovation.

Innovation is not serendipity or discovery. You cannot wait for it to happen to you.  It is a process that you have to nurture and manage as a major asset.

Innovation Architected will publish a whitepaper that details all the findings of the study later this month, and hold a webinar to discuss the findings on October 29 at 2pm ET (-5 GMT). To pre-order a copy of the whitepaper and/or register for the webinar go to the registration page.

There is no charge for the whitepaper, as it was partially underwritten by DiCOR, Imaginatik, Brightidea and Spigit.

You can also learn more about how we train organizations to proactively manage their innovation.

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