Booz & Co. has released its annual Global Innovation 1000 survey results. This year’s edition is called Why Culture Is Key. To its thread of the importance of aligning innovation strategy with overall corporate strategy, Booz adds the importance of aligning a company’s culture with its innovation strategy.
We have been emphasizing the link between culture and innovation for some time now. It is fairly self-evident however that bolting it down becomes more difficult, as can be seen in the Global Innovation 1000 report – the authors’ most relevant finding is that “there is no statistically significant relationship between financial performance and innovation spending…” but they still proceed to dedicate more than half of their study to reading meaning into that non-existent link.