In our first webinar of 2025, we explored how organizations can build sustainable innovation capabilities without breaking the bank. Here are the key insights that emerged.
Innovation is like physical exercise
The parallel between innovation and physical fitness is striking. Both require:
- Consistent practice rather than sporadic efforts
- A structured program rather than random activities
- Clear goals and metrics to track progress
- Accountability partners to maintain momentum
Just as you wouldn't expect results from random exercises at the gym, innovation success requires a systematic approach. Our research shows that companies often struggle not from lack of ideas or resources, but from inconsistent practice and unclear processes.
The three pillars of innovation fitness
To build innovation capabilities that last, organizations need:
1. An agreed process for innovation activities
- Clear pathways for progressing new ideas
- Defined approaches to innovation that align with company goals
- Structured support systems for innovators
2. Transparent funding mechanisms
- Well-documented processes for accessing resources
- Clear criteria for investment decisions
- Staged funding aligned with evidence of progress
3. Efficient decision-making frameworks
- Regular check-ins with leadership
- Evidence-based assessment criteria
- Quick feedback loops for teams