Thursday, November 14, 2013

Innovation Culture is Silicon Valley Secret Sauce

Booz & Company and the Bay Area Council Economic Institute set out to identify the "secret sauce" that makes the San Francisco Bay Area a global innovation leader. Our research found that the region's success stems not just from its institutions or the research budgets of its companies. It comes from a deeply ingrained innovation culture that permeates the business and research community and distinguishes the Bay Area from its competitors.
Matthew Le Merle notes the following critical success factors:
  1. Organizational alignment
  2. Culture of customer first
  3. Deep end-user understanding
Morever, Booz & Co. recommend:
  • Have a clear innovation strategy, aligned with customer needs
  • Have your technical leads report directly to the CEO
  • Develop and communicate your innovation strategy from the top
  • Constantly refresh your product development staff and welcome their ideas

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