The pace of new tools for innovators, such as OpenAI, is exciting. However, research shows that without the right culture, digital transformation in organizations fails. Organizational Culture is key for executives to lead continual change, technology implementation, and to have business and financial success.
Command-and control-leadership, and top-down autocratic culture, doesn’t work when implementing digital transformation. Faisal Hoque, founder of Shadoka and the author of The Wall Street Journal best-selling book, REINVENT: Navigating Business Transformation in a Hyberdigital Era, says, “The old-school model of leadership, where leaders hand down directives, will sink any digital transformation effort from the outset.” Instead, he suggests, “Leaders need to be open to the possibilities of digital transformation and willing to embrace continuous change—and help employees feel comfortable with change.”
Our experience at InnovationOne, LLC, is that many CEOs cling to command-and-control leadership and top-down culture. They hesitate in making efforts to improve their organizational culture to empower transparency, collaboration, and innovation. These CEOs tell us they fear out-of-control experimentation, needless spending, and they worry about rocking the boat.
Our response is transparent and collaborative organizational culture remains the answer. So, start rocking the boat with strategic direction and measures. Executives can lead and manage what they measure. Culture and innovation can be measured and managed. We will show you how.
InnovationOne® uses a scientifically developed assessment to measure, benchmark, and improve your organization’s culture and capability to innovate, implement digital technology, and enjoy better outcomes and financial results.
Through more than 20 years of research and the publication of more than 30 peer-reviewed academic articles on innovation and business strategy, InnovationOne Founder C. Brooke Dobni, PhD., has developed the InnovationOne Culture Index©, shown below. It has been benchmarked with some 3,000 organizations and thousands of executives, managers, and employees. It is referenced in academic literature as one of the most comprehensive and reliable measures of innovation culture in organizations.
Our research revealed that companies scoring the top quartile of our InnovationOne Culture Index© reported higher financial performance than bottom quartile performers by as much as 22 percent. We also learned that the 2012 top innovators earned a 6.3 percent total shareholder return premium (stock price appreciation and dividends) over three years. Companies that have been on the top innovators’ list since 2004 delivered a 4 percent premium over 10 years.
Our joint research with The Conference Board in 2019 showed that highly innovative companies have higher growth and profits than less or non-innovative organizations, and better stock market performance.
Our joint-research results reveal that high innovators distinguish themselves in multiple ways:
- they treat innovation as a strategic imperative
- they emphasize developing a culture of innovation
- they use metrics to measure progress
- invest in holistic, long-term innovation programs that are aligned and integrated with the business strategy
- they are agile, capable, and well positioned to take advantage of short-term opportunities and longer term innovation
And there is more research. Switching to government-funded R&D labs, our 2021 joint-study with the US Department of Energy (DOE) shows that higher innovation culture scores improve R&D lab performance. The DOE R&D labs that scored close to 70 on a 100-point scale have 30 percent to 3-times better outcomes across 13 commonly used metrics of success over those scoring at or close to 60. These commonly used measures include innovation, commercial deployments, partnerships with industry, and academic publications.
The InnovationOne Culture Index©, (shown at right) solves this guesswork with a scientifically developed assessment of your current culture
What will you receive:
- Analytics showing your areas of strength and weakness across the four organizational dimensions and 12 drivers of innovation
- Innovation benchmarks by your industry or country
- Specific recommendations to implement for next week, next quarter, and next year
- Executive Workshop to strategically plan how to improve your innovation
In addition, we offer:
- Coaching and training for your executives, project leaders, and teams.
- The Accelerate Innovation Group Hack empowers employees to brainstorm ideas aligned to the organization’s innovation strategies, collaborate, move ideas forward, evaluate their projects, and seek funding.
Don’t let the command-and-control leadership kill your digital transformation and innovation.
Contract us today to start your measurable and manageable journey to a more, transparent, collaborative, and innovative culture.