The speeches are free of charge but please note that the Empire Club of Canada retains copyright. Neither the speeches themselves nor any part of their content may be used for any purpose other than personal interest or research without the explicit permission of the Empire Club of Canada.
How to Create a Culture of Innovation
Providing some insight on innovation. Innovation now as the prime driver of economic growth and how that is so. The experience of three companies that are representative of innovative companies in the economy. A global survey on innovative practice and performance. The results and some of the things to which they led. Analyzing the data. Two relevant comparative situations. Looking at gains. Best practices in existing markets. A look at new markets and how they differ. Examples in each market. Some key lessons. Questions for the panellists. 1) How embedded are innovation practices in their organizations and to what degree are they tightly controlled or decentralized? Responses from Steve Thomas (De Beers); Mary Ann Turcke (Bell); John McNain (Capital One) for each question. Questions from the floor were gathered. 2) Now that the Capital One story is well known it is easy to imitate Capital One. What's your next step? What do you have in your agenda to keep on innovating and to what extent can you always innovate and keep on innovating? What are your initiatives? 3) Is there in your company a special incentive or a compensation package that is associated with innovation or is it just part of the general structure? 4) Can you tell us what you have seen as the two innovation killers in your company? 5) How do you get innovation in these times? What would be your toughest challenge of the next 12 months to keep some innovative spirit at a time when there is not that much life in the organization? Final question from the floor - 6)To what extent are your organizations interacting with your customers? To what extent are you structured to interact with your customers to get their ideas into your company?