The Innovating Organisation
Innovation remains central to an economies ability to adapt and grow. Instinct and reason conducted a survey which dealt with the following questions…
- What does innovation mean to Australian business?
- How innovative is Australian business?
- How well do Australian businesses innovate? And why is that?
- How well resourced are Australian businesses for innovation?
- What type of innovation do businesses conduct?
- What factors are key to the success of an innovation program?
- Is innovation typically focused on the technology or the end user or both?
- Who manages and drives innovation in an organisation?
- What processes do businesses have for managing innovation?
- What services are businesses looking for to assist with the innovation process?
- What specific organisations do they engage to help them with innovation?
- How well are these services provided?
- What services are most important?
- How important is brand in the innovation process?
- What specific issues relate to brand in the context of innovation?
Research Approach
The study involved interviewing 60 marketing directors and CEOs from a range of Australia’s top 100 companies in 2002 just post the Sydney Olympics. A standardised discussion guide was used to ensure the data captured was able to be compared and contrasted.
Results and Benefits
This study identified that companies desired to be more innovative because it was seen as producing:
- Competitive advantage
- Above average levels of profitability
- A sustainable business
- New revenue streams
- An appealing image – as an employer brand of preference
- Change to the organizations’ culture
- Better quality
Australian industry rated their ability to come up with plenty of ideas as their greatest strength in the process of innovation. Being able to identify strengths and weaknesses and deciding to move ahead based on customer needs were also highly rated.
Tardiness was a theme and where Australian businesses were seen to be less able in the process of innovation. Speed to identify ideas and then get them to market were the two most poorly rated areas of skill.
Australian business overall was seen to be less well resourced than was their own organisation. This taps into the belief that the Australian nation has somehow dropped the ball with regard to innovation.
Participants were, on the whole, quite experienced at innovating and experienced in a wide range of innovation activities. They believed the future would require even more significant innovation and expansion into new categories. In other words - greater risk and greater opportunity for success.
But perhaps the most powerful insight
from the study came from
the view expressed that constant scanning of the marketplace
and the ability to form new alliances and partnerships
were seen as key to the success of innovation.
Other factors for successful
innovation included:
- Commitment
- Ability to change
- Clarity
