Get your free personalized podcast brief

We scan new podcasts and send you the top 5 insights daily.

The PDMA's Outstanding Corporate Innovator (OCI) award involves a six-month on-site audit. Companies report that simply going through this rigorous evaluation helps them benchmark and improve their innovation systems, making the application itself a valuable exercise, regardless of winning.

Related Insights

Review your organization's incentive structure for AI. Are employees only rewarded for executing known use cases faster, or are they encouraged to experiment and share lessons? Without explicit rewards for exploration, companies risk stifling innovation and missing out on transformative AI applications that come from experimentation.

Innovation fails when treated as a sporadic event. Walmart established a formal, stage-gated pipeline (intake, evaluation, POC, MVP) that operates outside normal planning cycles. This systematic process provides a clear path for ideas to be validated and funded, increasing their success rate.

Alpine Investors applies the same operational rigor to its own firm as it does to its investments. By running quarterly "Opportunity for Improvement" (OFI) projects, small internal teams tackle challenges or scale successes, creating compounding innovation within the firm itself.

A memorable framework can embed innovation into a company's DNA. Genesis uses "CHIF" (Clever, High-quality, Innovative, Functional, Fun) to evaluate everything from software design to its personnel manual, ensuring a consistent and creative approach across the entire business.

Unlike function-specific associations (e.g., for engineers), the Product Development and Management Association (PDMA) was created in 1976 to unite people across all roles and industries who are involved in the process of innovation. This cross-functional philosophy remains its core strength.

Established companies operate an 'execution engine' that values predictability and eliminates failure. This directly conflicts with the 'innovation engine,' which requires uncertainty, experimentation, and learning from failure to discover future value. This fundamental tension is the primary reason corporate innovation initiatives often stall or fail.

To avoid becoming a simple help desk, the new innovation team uses a scorecard to vet potential projects. Team members, leadership, and even a GPT score each idea against a 30-point rubric. This ensures their bandwidth is focused on strategically aligned, transformational initiatives.

Lego fuels its extensive innovation pipeline by linking it directly to operational efficiency. A global "Partner for Productivity" program systematically generates significant annual savings. This creates a powerful cultural understanding that cost discipline is not an obstacle to creativity but the very engine that pays for it.

Oshkosh evolved its corporate venture capital from focusing on financial returns to prioritizing strategic innovation. This "CVC 2.0" approach emphasizes direct partnerships and technology integration to supplement in-house R&D, making innovation the primary goal, though financial returns are still a factor.

Leaders often frame innovation as a monumental, revolutionary act, which can stifle progress. A more practical approach is to define it as incremental improvement. Fostering a culture where teams focus on making small, consistent enhancements to existing processes makes innovation a daily, achievable habit rather than a rare, intimidating event.