A 2006 innovation study conducted by the strategy and technology firm, Booz Allen Hamilton, found that the most successful companies combine an integrated process and a supportive culture to create a sustainable competitive advantage. Another study of theirs in 2007 found that the one key characteristic of successful innovators is that they had a rigorous process for managing innovation. This included, “a disciplined, stage-by-stage approval process combined with regular measurements of every critical factor, from time and money spent.” And that this “contributed to the success of new products and services in the market.”
There are many examples of individuals who have great ideas but do nothing with them. Their organizations do not even know of these concepts. Unfortunately these ideas die. They die because the creator kills them! Why? Perhaps the innovator recognizes that the idea may negatively impact their job or the job of co-workers or, because the innovator does not know how to explore the idea to take it from a vision to a reality. Furthermore, the innovator may be too quick to discard the idea because they think that no one would ever agree on how to structure the concept or pay for it.
Business Improvement Architects will help your organization to ignite the innovation process and ensure every employee’s ideas move successfully from vision to reality.