2012 IQ Survey Reveals Traits of Innovators
Organizations that make a deliberate choice to build and nourish innovation can earn a significant payoff for their efforts. This conclusion is among the results of the second annual Innovation Quotient (IQ) Survey released September 17, 2012, by the public accounting, tax, and consulting firm Plante Moran and the executive education and innovation training institute NewNorth Center.
Four Kinds of Innovators
The report identifies four tiers of innovators who demonstrate how organizations can move up the innovation ladder and improve their financial results by adopting the proven practices of innovation-driven companies.
Accidental innovators: This group dabbles with innovation when a unique idea hits and they have a champion who drags the idea on to commercialization. The survey found they were able to generate 11.1 percent of revenue from new products or services, and typically initiate new products, services, or processes in response to comments from customers and constituents or from a need to improve quality, rather than from a culture of innovation.
- The global sustainability director at business furniture maker Steelcase in Grand Rapids, Michigan, and the executive director of the Cystic Fibrosis Foundation, Greater Illinois Regional Chapter, who talk about using innovation to fulfill the missions of their organizations.
- The presidents of two Indiana banks who discuss the importance of sharing ideas and the need for better products from their software vendors.
- An innovation consultant with offices in Detroit and Barcelona, Spain, who introduces collaboration in innovation ecosystems as a way to assemble the talent and resources needed for breakthrough innovation.
- The CEO of a senior care provider with locations in Michigan and Illinois who addresses the inevitability of change in health care.
- An innovation trainer from Cincinnati who explains the importance of a process that includes rules for when to abandon an idea.
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