The third report in our series on Corporate Innovation, this report documents how companies have organized for innovation success.
When innovation occurs in multiple pockets throughout a corporation, organizing to thrive and achieve results may seem an arduous if not impossible! task. In Catalyst Companies’ new research report, we detail five models that corporations are organizing under to achieve maximum efficiency, ideation, collaboration, and output from their innovation programs.
It’s much like building an orchestral ensemble, wherein a conductor leads multiple musicians and instruments that must act in concert in order to make beautiful music. For each of the five distinct models for corporate innovation, we pair them with easy-to-grasp metaphors that relate to how musicians organize as they mature in their craft. Within each model you’ll learn its pros and cons, who makes decisions, the speed of innovation, and the typical amount of funnels. See the infographic below for a preview of the research:
This members-only report also outlines the top challenges corporations face in organizing for innovation, including a lack of understanding around org model best practices, slow-moving efforts with unclear goals, and departmental or BU “bottlenecks.” Readers will also better understand the types of internal and external funnels that feed innovation efforts, and recommendations in selecting the right model for your company’s size, resources, and innovation vision.
A Sneak Peek at the Most Mature Model: “Symphony Orchestra”
As organizations work their way through innovation program maturity, the ultimate end goal is complete orchestration led by an aligned, visionary group of leaders. We call this model the “Symphony Orchestra.” Multi-functional Innovation CoE of senior leaders from all departments operate in concert with a view of all innovation efforts within the organization. The CoE enables innovation across multiple departments within the company, and members serving on the CoE are also responsible for senior leadership within various corporate groups. Common departments included: marketing/digital, PR, legal, HR, IT, and product. The goal of the CoE is to standardize and scale innovation across the company, providing guidance to efforts that do not yet have dedicated teams or leadership.
Through interviewing nearly 20 senior leaders at large organizations, Catalyst Companies aims to better innovation leaders’ understanding of how to organize their company for rapid innovation. This is best done throughout an orchestration of multiple business units, departments, and teams all aligning together under common goals and vision for success. For a more robust preview of the report, or to inquire about becoming a Catalyst Companies member, please email Carl Bohlin, Member Success Manager, at carl [at] catalystcompanies.co.