Linking Innovation Measurement to an Implementation Framework: A Case Study of a Financial Services Organization at the Front End of Innovation

Abstract

Many organizations find themselves at the "front end of innovation", that is, they know they need to do something, but they are not quite sure what to do. Through our research, we have learned much more about the practice and implementation of innovation. For example, we have discovered that innovation is most successful if there is leadership support for a culture of innovation combined with systematic approaches to embed and reinforce innovative behaviours. This article outlines a case study of an organization in the financial services industry who began their innovation journey a number of years ago, and reports on the progress of a sustained and deliberate approach. This research highlights the relationship between an innovation cultural assessment model and its utilization as a framework to manage the implementation of activities to support the development of an innovation approach in a context specific scenario. A case study methodology was adopted that utilized an innovation culture model as a measurement tool. By actively observing the organization, including two cultural assessments over a 4-year period, the findings indicate that an innovation assessment model is useful as an approach to advance the innovation agenda in the organization. In this sense, the research findings are of interest to academics looking to conceptualize a broader implementation framework that is closely associated to the innovation measure associated with the organization. As well, practitioners looking to advance their innovation platforms will find the framework useful as they plan initiatives aimed at advancing their innovation agendas.