IQ Blog Archives - InnoQuotient – We assess the Innovation Culture

The myths of innovation in light of the data

Anna Lleonart — Wed, 07 Jun 2023 11:34:25 +0000

We share an excerpt from the article written by Fran Chuan, Jay Rao and David Cerdá for Harvard Deusto Business Review.

The first step in innovation is to overcome certain debilitating myths, and the clearest way to do this is by using objective data instead of following hunches or preconceived notions.

A lot has been written and will be written about innovation. Many organizations make enormous efforts to achieve outcomes that provide different responses to existing problems or needs; yet the results are often disappointing. The problem frequently lies in the fact that those results remain in limbo: talked about, but not acted upon. The truth is that there can be no innovation without rolling up your sleeves and getting to work, and it can’t be done without affecting – to a greater or lesser degree – a company’s culture, its leadership and, perhaps, its strategy.

For many leaders, innovation remains a mysterious concept, something they would like to achieve, without even knowing how to define it or put it into action at their organizations. There are undoubtedly many executives who are confused by official verbiage on the topic (one of its hallmarks is the complex “R+D+i” equation, which covers too much and doesn’t reflect reality) or by myths that create misunderstandings and prejudices. At any rate, there are many who would like to meet their business or executive targets in this area. We know that our views and theories determine our behavior. It is therefore worthwhile to not only dismantle some of the myths, but also do so based on objective data, which is the only trustworthy source when it comes to making professional decisions.

To undertake this task, we are going follow a model for the assessment of corporate culture when faced with the challenge of innovation that was created by Dr. Rao and Dr. Weintraub, professors at Babson College, which was printed in an article in MIT Sloan Management Review1. This tool represents a unique platform and point of reference for assessing culture in the face of innovation, given that the model has been endorsed by over 500 real business cases2, thereby creating a valuable database from which to draw conclusions and establish action plans.

Read the article in Harvard Deusto Business Review.

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Innovation and Culture: Two Sustainable Advantages

Anna Lleonart — Wed, 17 May 2023 09:50:02 +0000

Very few products, services, business models or technologies provide a sustainable competitive advantage. In the 1960s, an average Fortune 500 firm lived for an average of 60 years. Today, that number is down to about 30 years. An in-depth study of 4,700 publicly traded firms’ performance post 1980s, 1990s and 2000s recessions showed that 17% of them went bankrupt or bought or went private. 80% of them never recovered to their original growth rates prior to the crises. Only 9% succeeded very well and performed above their industry peers.

The winners had a culture that demonstrated the ability to reinvent, and they used innovations that changed their game in the market. The combination of both innovation and culture is more sustainable. Incremental and radical innovations are the result of two key capabilities – continuous improvement (kaizen) and continuous experimentation (kaiku). Does your firm have resources, processes, values, and the climate to master both incremental and radical innovations? Culture is an amalgam of both the firm’s hardware side (business) and the software side (emotional) of the enterprise.

Does your firm have the innovation culture to build a deep sustainable competitive advantage?

To help firms develop this capability, InnoQuotient, the Culture of Innovation assessment platform was developed nearly a decade ago. InnoQuotient allows enterprises to know the accelerators and detractors of innovation inside their culture. It demonstrates where they stand in terms of their innovation values, behaviors, climate, resources, processes and metrics. It helps executives to clearly define action plans and to accelerate projects to achieve their innovation goals.

The InnoQuotient model was published in the Sloan Management Review in 2013.

For more information, please contact InnoQuotient.

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InnoQuotient Community

Anna Lleonart — Thu, 07 Apr 2022 15:58:19 +0000

Transforming Cultures

Organizations have a “soul”, which determines results, talent attraction, the ability to take advantage of trends, and even to generate them.

At InnoQuotient our purpose is to discover the “soul” of organizations to help them on their way to the Culture of Innovation. This is the “leitmotive” that encourages us to build our InnoQuotient Community

One of the main pillars to develop the InnoQuotient Community van a ser las publicaciones de este blog. On the one hand, we want to provide knowledge about the Culture of Transformation and Innovation based on the IQ Assessment y el the model on which it is based. On the other hand, we want to share the strategic ideas, experiences and wisdom of our clients, partners and recognized experts.

What accelerates or hinders innovation?

We highlight all those accelerators or bottlenecks that usually exist in organizations when they decide to make innovation part of their culture.

We discover the bright spots that accelerate the transformational process, and he dark spots where any change gets stuck to address them step by step, because the cultural revolution is given by evolution. Once the first results have been obtained in a very effective way thanks to the information provided by InnoQuotient, the transformation takes place at an increasingly accelerated pace, bringing positive value to society.

As a result, organizations become more agile, transparent and adaptive to the uncertainty and ambiguity involved in exploring the future, thus providing the humanism and value that society needs.

Would you like to join the InnoQuotient Community and share knowledge?

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