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What Are The Key Success Factors For Applying Innovation In An Organization?

Updated: Apr 22, 2018

How do you put creativity to work? How do you implement it so it delivers innovation? What does a culture of innovation look like? There are no shortage of innovative companies to draw inspiration from who have been able to transform themselves. Though you can’t copy their culture and strategy, but you can certainly learn a few things.

Most importantly, there are general guidelines which any organization can apply. I was asked recently about this topic, and came up with a few key success factors for applying innovation in your organization; which are listed below in no particular order of importance:

  1. Executive leadership support and buy-in

  2. Shifting the cultural mindset of the organization to be agile and innovative

  3. Clear strategic vision and plan

  4. Willingness to take calculated risks

  5. Willingness to think outside the box and challenge traditional business models

  6. Willingness to experiment

  7. Willingness to collaborate with outsiders

  8. Strategic budget allocation

  9. Willingness to replace legacy technology

  10. Ensuring innovation plan and business are in sync

The two most important for me are leadership support and willingness to experiment; there is no innovation without them.

Before going forward and adding innovation breeding activities to your organization, remember that it isn’t enough to simply add activities; you have to eliminate that which impedes innovation.

by Jorge


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