Last month I wrote a short article on how organizations can gauge if they are actually doing innovative work or simply talking about it. The article has been generating some great discussions on Linkedin and other platforms.
Innovation is one of those ideas that doesn’t need a pitch deck. It is obvious. That doesn’t mean it is easy or that every organization is doing innovative things.
That’s why executives need tangible gauges that can help them rate their innovation efforts. Looking at the quality of decisions being made is one of the best ways to gauge how innovative you truly are.
Look at three areas, in particular:
1. Where ideas come from
The best ideas are already inside your organization but you need a way to encourage them. Think of the doorman in a hotel who knows several ways to make the initial customer experience. The problem is that no one is asking him or her.
2. How quickly decisions are made
Speed matters. If you take years to launch a new product, you’re bound to always be behind. Measure the Decision Speed in your organization and look for ways to increase it.
3. Forget about the Highest Paid Opinion
Executives have an automatic weight vested on them by their title (or salary). It doesn’t make their ideas better and teams need a way to make the best decision, regardless of who’s involved.
Innovation is and has been the key to growth ever since the end of WWII. It all starts by making the decision to embrace it.