Maintaining a culture of innovation in an ongoing and sustainable way requires:
- Growth orientation
- Objective is to grow business rather than maintaining the company at its size
- Some companies merely exploits a short term opportunity
- Vigilance
- Continual external scanning
- Market research and competitor analysis
- Reading the scientific literature
- Commitment to technology
- Persistent investment in the new ideas
- Demonstration of the commitment to employees
- Encourage creativity
- Acceptance of risks
- Willingness to consider carefully risky opportunities
- Ability to make risk assessment decisions
- Include the decisions in a balanced portfolio of projects
- Cross functional cooperation
- Receptivity
- Capability of the organization to be aware of, identify and take effective advantage of externally developed technologies
- Slack
- Allow individuals to think, experiment, discuss ideas and be creative.
- Adaptability
- Readiness to accept changes
- Change followed by all internal activities
- Diverse range of skills
- Combination of specialists and generalists
- Transfer of knowledge within the organization
- Space for creativity
- Strategy towards innovation
- Strategic planning and selection of technologies and markets
- Organizational heritage and innovation experience
- Company wide culture realising the value of innovation.