Survey Finds “Risk Taking” And “Inspiration” – 2 Innovation Keys- Difficult to Implement

June 23, 2009 - PRLog -- A national survey of business executives released today by www.InnovationCoach.com  indicates that professionals are aware of the building blocks of sustainable Innovation, yet find these very elements of corporate culture amongst the most difficult to both put in place and maintain.

Results of the online survey show respondents select cultural attributes “Risk Taking” (78 percent) and “Inspiration” (67 percent) as elements that should be in place to create sustainable Innovation, and yet many (58 percent and 37 percent, respectively) find them among the most challenging to implement and continue.

In addition, critical factors such as “Accountability” (70 percent) and “Ownership” (75 percent), are also amongst the most frequently cited as fundamental to success in building a culture of sustainable Innovation.  Yet these very traits are among the least frequently selected characteristics as being “in place today” (only 33 percent and 37 percent, respectively).

“Innovation is more critical to organizational success than at any time since the 1930s, and implementation and maintenance of a culture that fosters Innovation takes hard work,” said Robert Brands, founder of Innovation Coach.  “The goal of the survey was to establish what key elements of the Innovation culture business leaders value most, identify which of these are already have in place and isolate those considered the most difficult to put into place and to maintain.”  

According to Brands, cultural characteristics such as risk taking and accountability – especially in today’s uncertain environment -- requires a willingness to fail, an investment in time, effort and capital with no guaranteed return on investment.  It also requires leaders who can inspire teams to greatness, against daunting obstacles.

“Innovation takes guts, yet only the organizations that nurture and grow a culture of sustainable Innovation will succeed in the years ahead,” he said.  
Innovationcoach.com is a portal site that offers the world’s organizational leaders with a wide range of tools needed to build cultures of sustainable Innovation.  The latest trends, best practices and self-audits are available, as is customized consulting for private and public sector managers.  Results of the survey can be found at: http://www.innovationcoach.com/resources/survey/survey-re....

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Ever seen or experienced instant foaming hand soap? The company behind the technology was a small Dutch company called Airspray. Airspray, a Netherlands based dispensing company, delivered double digit profitable growth with annual new products. As a result of the culture and process, Airspray grew to introduce at least one new product per year and surpassed its own expectations with two, three and even four major launches per year in the later years, clearly benefiting from the developed process and discipline. Being a small public company with sales starting at about $10mm per year and making the promise to deliver at least “one new product per year” is no easy task.

Innovation is not just survival and success of companies like Apple, Nike, etc., although it is often written about and measured in terms of “percentage of R&D spending.” Innovation is the lifeblood of any company, large or small.