A Culture of Innovation

...is so confident in its ability to innovate that it sets the goal of deriving a third of its sales from products introduced in the past three years.

3M is often cited as an example of a consistently successful innovator that draws on what is clearly a highly innovative culture. 3M has around 50,000 products and yet is so confident in its ability to innovate that it sets the goal of deriving a third of its sales from products introduced in the past three years. Although it is famous for encouraging people to explore ideas not relevant to their main jobs, this is only one element of a complex culture.

It also allows people to progress their ideas through stages of funding options, from seed money to greater resources, if the Board is convinced by the proposal. There is a deliberate attempt to create a sense of company history based on valuing those people who challenge the system, and a policy of encouraging "bootlegging" behavior--progressing innovation projects that might not have received official sanction.

ACTION POINT: Develop a recognition-and-reward program for those who contribute to a successful innovation, to encourage all employees to participate in the process.