Early in the pandemic, McKinsey discovered that most organizations “battened down the hatches," putting off innovation and focusing on core business goals. Innovation would have to come later.
The firm reviewed earlier historic crises and found examples of how innovation not only continued, but thrived: during World War II, the SARS outbreak in Asia and the global financial crisis of 2008.
Innovating firms not only survived, but came out stronger, beating the S&P 500 by 30% or more.
The case for innovation NOW could not be more clear.
"86 percent of executives we surveyed told us that innovation is a top three priority, yet fewer than 10 percent say they are satisfied with their organizations’ innovation performance." – Innovation–The launchpad out of the crisis, McKinsey & Company
How a southwestern defense and security firm hones innovation
Working with six departments and dozens of senior individuals, Idea Connection Systems (ICS) provided each participant with insights regarding how their styles and preferences influence how they can better lead and manage for enhanced innovation.
We also helped leaders craft strategies to optimize team composition and work processes for desired innovation outcomes.
We provided an aggregate ISPI snapshot for each department and discussed strengths and potential blind spots.
ICS enhanced innovation and collaboration effectiveness.
Helping Raytheon continue to be evolutionary, expansionary, and revolutionary
Raytheon Technologies (Raytheon) was looking to build off its long-standing ongoing relationship with Idea Connection Systems in order to enhance innovation and collaboration effectiveness.
ICS designed individual, team, and group initiatives designed to better match innovation efforts to desired outcomes. The work at Raytheon is dynamic and we continue to help them achieve results along the innovation continuum, from evolutionary to expansionary to revolutionary.
Now is a great time to be innovative
McKinsey suggests that the pandemic is bringing on innovation as 90 percent of executives believe the Covid-19 crisis will fundamentally change the way they do business over the next 5 years. Yet only 21 percent have the expertise, resources, and commitment to face the challenge. If your organization wants to be more innovative, ICS is ready to help.