I have spent a good part of my career either influencing, managing, or building centers of innovation across industries for fortune 500 companies. Recently I was asked the question, “what are the high-level success factors/key criteria that create a high performing innovation organization?” This is not an easy question since culture and mindset are two variables that have a significant impact on success, and since they are “variables” they can change from day to day we need to look at more concrete. Building something like a World Class Innovation Organization is like building a house. So, let us talk about “Building a House of Innovation!”
Laying the foundation is the most important part of building a house and it is also the most important part of building a world class innovation organization. This foundation is laid down during the strategic planning process. It is important that the corporate strategic plan ensures that innovation is considered during the strategic planning process.
Framing out the house is confined by the foundation. So too is the building out of an innovation center of excellence. The strategy defines the portfolio of where you are going to look for innovation within the business and from the outside. It is in essence looking at where the “white space” is within the strategy and creating portfolios and structures that look to address those “white spaces.”
The structure itself, the walls, hallways, rooms etc. is exactly that the structure and design. So, it is only natural that Organizational Structure and Design is so important to the success of an innovation team and center.
Being “under roof” is a huge milestone when building a house. This is when timelines and coordination come to light. You must put the electrical and plumbing in before you put up the dry wall and you must coordinate those people, so they do not work over top of one and other. Project and Process Efficiency are the primary way all this gets accomplished without fail.
I just mentioned the plumbing. This how you move life giving water through the house. Well in the world of innovation that water is ideas and different points of view. So, the plumbing is really the innovation network you develop to give you access to those life-giving ideas and technologies.
So, part of the thrill of owning a home is being able to look out of your window and not only see your domain but the view beyond your property. You always want to check the view from the windows to make sure it makes you feel good and inspires your imagination. Well from the house of innovation you want to be able to have visibility to Emerging Markets, Technology and R&D as they relate to your business.
You always want your house to have curb appeal. How else will you make the neighbors jealous or be able to brag about your yard or get the best price when it is time to sell. Well in the house of innovation that means having a great reputation and being a place where people want to work. It must be a place where the next generation workforce is developed. Not only for innovation but for the corporation or enterprise itself.
Lastly, you want to be able to show pictures of your house to all your friends, family, and your rivals. So, you need to be able to show those pictures in a way that makes everyone realize how hard you worked to build the house. The house of innovation does that by having meaningful and understandable metrics.
As we go through the next few weeks, I will be spending time in each area of building this house. I hope you stick around to see how it works.
Stay safe, stay smart and stay healthy