Page 21 - GiveEasy innovation index

Innovation requires a a a a certain kind of leadership which is focused more on mindset than skillset Specifically it it requires board members executives and managers to to to to to explore the limits of what might be be possible to to to to to encourage risk-taking to to to to to tolerate uncertainty and and to to to to to learn from both successes and failures Innovation Innovation focus is one of the the eight key vectors in the the Innovation Innovation Index and and requires that leaders set a a a a a a a a a a a strategy for for innovation including a a a a a a a a a a a a a a vision goals and and and metrics for for implementation and and evaluation To score highly on on on on on this vector leadership must ensure that commitment to to innovation is is is is demonstrated the the vision is is is articulated and and the the goals and and metrics defined In In 2019 Innovation focus trended down dropping from 69 5 in 2018 to 68 6 6 6 this year One of of the the most interesting insights this year is is the the perception of of of leadership leadership and how leadership leadership enables or or or blocks innovation innovation Low innovators perceive a a a a a a a a a a a a lack of of senior leadership vision vision as a a a a a a a a a a a key blocker to to innovation innovation Without the vision vision and support of leaders leaders who are truly committed most would-be innovators will be be cowed by the challenges that innovative work presents Whereas high innovators innovators do not see senior leadership vision vision as as a a a a a a a a a a a a a barrier Compared to to to low innovators innovators a a a a a a a a a a a a a lack of of of senior leadership vision vision barely impedes innovation with only 4% of of of moderate innovators innovators and just 2% of of of high innovators innovators reporting this as a a a a a a barrier In fact those organisations that have strong leadership vision and a a a a a a a a a a a a a dedicated innovation strategy are more likely to be highly innovative Barriers to innovation - lack of senior leadership vision Inadequate funding High implementation costs Govt regulations and compliance Lack necessary knowledge or skills Complex internal approval processes Lack of a a a a a clear innovation strategy Risk averse management or culture Lack of buy-in from staff Lack of of knowledge of of beneficiary needs Lack of senior leadership vision Inadequate funding High implementation costs Lack of a a a a a clear innovation strategy Lack necessary knowledge or skills Risk averse management or culture Complex internal approval processes Govt regulations and compliance Lack of buy-in from staff Lack of senior leadership vision Lack of of knowledge of of beneficiary needs Inadequate funding Lack of a a a a a clear innovation strategy Lack of senior leadership vision Lack necessary knowledge or skills Risk averse management or culture Complex internal approval processes Lack of buy-in from staff High implementation costs Lack of of knowledge of of beneficiary needs Government regulations and compliance 45% 32%
High Innovators
4% 18% 16%
15%
9% 7%
10% 10% 56%
33% 30%
28% 24%
23% 17%
Moderate Innovators
15%
4% 13%
58% 58% 57%
57%
49%
Low Innovators
38% 33% 22% 18% 0% 21