How to Create a Culture of Innovation

Email     |     Share  
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8
Next How to Create a Culture of Innovation-4 Next


Identify the idea generation path most suited to the organization.

One such path is "bricolage" – best described as "making do with what one has" to meet a customer need. Picture the movie Apollo 13 when the NASA lead throws a bunch of spaceship parts on a table and tells the team, "Build an air exchanger." Bricolage represents unknown means, but known predetermined outcomes. Possibly the most recognizable bricoleur was the TV character MacGyver, who regularly demonstrated that anything is possible with a stick of chewing gum, wire and a wrist watch.

Businesses fail. Research indicates that over 50 percent of new firms fail within five years, and 75 percent are gone within 10 years after that. So what is different about the firms that survive? They are successful in recreating themselves, in continuing to engage entrepreneurial thinking on an equal footing with strategy. In other words, they bust the chains of staid thinking. They encourage their people to find ideas that can lead to new opportunities.

So where do great ideas come from? Many believe that there are only certain creative people and then there are the rest of us. Nonsense. There are certainly some people who are more creative than the norm, but if we want firms to develop and exploit entrepreneurial opportunities, the first step is recognizing that opportunities come from everyday people.

To foster this kind of entrepreneurial thinking, the key is to establish a corporate culture that accepts failure and rewards effort and experimentation, so that everyone within the organization is comfortable applying an entrepreneurial mindset to their work.

It takes time and discipline to change a corporate culture, and while there is no magic formula for success, there are a few key markers that must occur along the journey. In this slideshow, Jim Dewald, author of Achieving Longevity: How Great Firms Prosper Through Entrepreneurial Thinking, identifies some of the proven systems and processes management can implement to support entrepreneurial thinking and innovation.

Jim Dewald is the author of Achieving Longevity: How Great Firms Prosper Through Entrepreneurial Thinking. He is the dean of the University of Calgary's Haskayne School of Business and an associate professor in strategy and entrepreneurship. Prior to entering academe, he was active in the Calgary business community as the CEO of two major real estate development companies and a leading local engineering consulting practice, and president of a tech-based international real estate brokerage company.


Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

More Slideshows

IT security skills 7 Top Skills for Security Pros

Executives at several top tech firms outline the skills they need now and in the near future, including IaaS and IoT security expertise. Other skills listed may surprise you. ...  More >>

142x105itbeusasecurity2.jpg 9 Predictions for Cybersecurity’s Role in Government and Politics in 2017

Experts predict how cybersecurity will affect and involve our government, policies and politics in 2017. ...  More >>

Five9RemoteEmployees0x 5 Best Practices to Enable Remote Workers

Recent years have seen a significant increase in the remote workforce as developments in technology have given employees the freedom to work anywhere, anytime. ...  More >>

Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.