Retail - Culture of innovation
How a legacy product company created a Center of Excellence to instill a culture of innovation, resulting in over 25 patents and enhanced departmental collaboration.
Introduction:A legacy lifestyle product company sought to instill a culture of innovation within its organization. Recognizing that innovation is essential for survival and growth, the company aimed to transform its operational ethos.
Key Insight:For organizations to thrive, they must have a structured approach to innovation. However, many fail to engage each department in defining its own contribution to the overall innovation strategy.
Action Plan:Our involvement centered on establishing a Center of Excellence (COE) that provided innovation training and defined departmental competency requirements. This initiative unfolded over 18 months, focusing on implementing systems, policies, and cultural rituals to drive innovation throughout the company.
Impact:The company successfully filed over 25 patents within two years, with significant improvements in inter-departmental collaboration noted, especially in areas related to new product development (NPD). This cultural shift positioned the company for continued success.