Your Gateway to Innovation Success
Knowing how your company makes decisions is critical in moving ideas forward. And being sure the right ideas are moved forward can depend if you have the right innovation strategy in place. Having the right strategy will lead your company down the path toward innovation success.
At Altitude, we’ve thought a lot about how people make decisions and the types of results they need to help drive success. Over the past twenty-five years, we’ve worked with companies like Stanley Black & Decker, Thermo Fisher Scientific, and United States Air force and seen first-hand the type of information clients need to move forward with an innovation strategy.
We get it. Everyone needs something a little different, but as Altitude’s Strategy Director shares in Structuring Innovation for Success, most people fall into three main decision-making archetypes: Data-driven, Consensus-driven and Vision-driven. Before you start your next innovation strategy project, think about which category you fall into so you can ensure the results are structured in a way that is meaningful for you.
Three Decision-making Archetypes
Our clients who are data driven are numbers geeks. Excel spreadsheets get them excited and they look to cold, hard numbers to help drive their decisions. For organizations and individuals that fall into this category, quantitative analysis is paramount to help their organizations mitigate risk. We spoke to our Strategy Director about this and he said,
“Since innovation is inherently risky, that can make it challenging to embark upon new projects with uncertain outcomes. When discussing an idea, people inside these organizations are looking for evidence of its future success. The goal is to demonstrate innovation success as a calculated and thoughtful risk. Google is an excellent example of a data-driven company. Executive Chairman Eric Schmidt describes the company’s innovation strategy process as one of deciding the right questions to ask and then collecting data to find the right answers. Google is not afraid to take risks; however, the company just wants to make sure the data shows signs of potential innovation success.”
What’s exciting about companies that demand data driven results is that they provide our strategy and engineering teams with new sets of challenges. We love thinking critically about how to translate qualitative learnings into quantitative data to help ensure our clients have the tools necessary to create an innovation success story.
Love your team? Want to hear from every single one of them? Then you’re likely part of a consensus driven organization. They are deeply driven but seek to understand each stakeholders’ perspective and ensure each member has a say. They are, in a word, deeply driven by their internal team.
For consensus driven managers, directors and companies, it is vital that partners understand that the concerns of each audience are critical in ensuring innovation project success.
Driven By Vision
Vision-driven companies are those that are fueled by their convictions and are looking to inspire their end users. They are often excited by the idea of ambiguity and have the leadership that is willing to drive the initiative.
In our paper, Structuring Innovation for Success, our Strategy Director talks in more detail:
To move forward on an innovative idea, it is important to inspire leadership by showing how their vision can be brought to life in a new, more powerful way. Virgin is perhaps the greatest example of a vision-driven company. Working in a vision-driven organization requires an intimate understanding of the brand and an understanding of what has emotional resonance.
Just like timelines and budget, understanding your innovation personality is necessary to ensure success. For Altitude, each time we chat with a client, we begin with a series of in-depth, one-on-one interviews to get to know our clients’ organization, how they interact in their environment and to help ensure we have the right innovation strategy before we move forward bringing ideas from concept to commerce.
Need to know a little bit more about your archetype? Check out our paper, Structuring Innovation for Success.