Innovation in Culture: HP Company Accelerates the Development with Innovation Culture

The most successful innovators ensure that their culture not only supports innovation, but actually accelerates its execution.
The innovation culture, of course, is likewise an expression of people, their past, and their current beliefs, ideas, and behaviors. They make innovation happen, and they do so consistently over time.

(By Langdon Morris,2007)

As the business world becomes increasingly complex and still more astonishingly competitive, companies are turning to innovation as one of the few durable sources of competitive advantage. Innovation is now among the top priorities for the majority of the world’s large companies. The necessity of innovation is now universally accepted, but beyond their enthusiasm for bright ideas, most leaders know that to be successful over the long term they have to develop a strong innovation culture. Such a culture can be recognized as an organization that is known externally in the marketplace as a genuine innovator, and equally that it is known internally among the people in the organization as a dynamic, innovationfriendly place to be.

 Favorable Innovation Culture and Difference

http://www.innovationtools.com/PDF/CreatingInnovationCulture.pdf


Booz & Company’s annual study shows that
spending more on R&D won’t drive results.
The most crucial factors are strategic alignment
and a culture that supports innovation.
                             (by Barry Jaruzelski, John Loehr and Richard Holman,2011)

Culture plays a critical role in this strategy, says Palensky. “For over 100 years, 3M has had a cultureof interdependence, collaboration, even codependence. Our businesses are all interdependent and collaboratively connected to each other, across geographies, across businesses, and across industries. The key is culture.”

See on the right: Only 44 percent of companies surveyed have both highly aligned culturesand highly aligned innovation strategies, and it pays off in performance:They outperform on growth in both profits and enterprise value.

Not surprisingly, companies saddled with both poor alignment and poor cultural support perform at a much lower level than well-aligned companies. In fact, companies with both highly aligned cultures and highly aligned innovation strategies have 30 percent higher enterprise value growth and 17 percent higher profit growth than companies with low degrees of alignment. (see on the right)

Similarly, companies agree strongly on the cultural attributes that are most prevalent at their companies.There was less unanimity on the importance of other attributes, with very few citing tolerance for failure in innovation as essential. Together, cultural elements help sustain the set of capabilities that enable companies to succeed.
There is a specific company telling us that innovation culture gives the appreciative insights for the company and accelerates the development.

Hewlett-Packard Company has made a conscious effort to integrate its innovation efforts more tightly with the business, and to ensure that both its strategic goals and the innovation culture that supports those goals are aligned with that overall strategy. And although the company’s overall strategy may change as a result of the recent arrival of Meg Whitman as chief executive officer, the tight link with the innovation culture is likely to continue. In many ways, Agilent’s innovation culture stems from its history as part of HP, but Solomon notes that the company has defined its own values. Now, she says “the cultural areas we’ve really tried to strengthen are speed to opportunity, customer focus, and accountability.Innovation itself has always been a strength; but to really address customer needs more swiftly and to focus on the things that matter most are where the culture of this company is today.”

(by Barry Jaruzelski, John Loehr and Richard Holman,2011)

http://www.booz.com/media/uploads/BoozCo-Global-Innovation-1000-2011-Culture-Key.pdf

Comment:

Nowadays, innovation culture generates as an important guideline and principle for businesses. Innovation occurs when new product entries to the market or existing technical problems need to be solving. At this time, the combination of innovation culture can assist them effectively because the context of innovation culture can provide critical thinking to support business development. Such as the HP Company referred, their innovation culture can support their goals and successfully entry the market. Together, cultural elements help sustain the set of capabilities that enable companies to succeed. There is a specific company telling us that innovation culture gives the appreciative insights for the company and accelerates the development.