Fostering a Culture of Innovation
By Joyce Gioia CEO, Employer of Choice International, Inc. | January 30, 2011
Back in the 1960s, Massachusetts Institute of Technology (MIT) professor Peter Senge authored a book called The Fifth Discipline. In his book Senge detailed the results of a Princeton Study that pointed to the fact that organizations that had embraced continuous never-ending improvement were more profitable―much more profitable―than their more traditional competition.
Since then, numerous other studies have demonstrated that corporate cultures which foster this type of innovation are more profitable and successful by many standards. As if that weren't enough, these forward-thinking organizations also tend to have lower employee turnover and higher productivity.
In fact, according to McKinsey & Company's 2010 Innovation and Commercialization Global Survey, 84 percent of executives say innovation is extremely or very important to their companies' growth strategy. Yet, despite this obvious endorsement, only 29 percent of the executives say their companies set formal priorities for innovation.
First, let's talk about culture. Organizational culture is one of those intangible aspects of corporate life. In the hospitality industry, most often, the general manager sets the tone. If s/he understands the value of people, they will create an environment within which people want to work.
In this article we provide you with six great categories of ideas for creating a culture of innovation―for institutionalizing continuous improvement―at your property.
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