Canadian business leaders acknowledge that innovation is one of their most important non-financial strategic priorities. The Conference Board of Canada has embarked on a multi-year project to build an Index of Corporate Innovation (ICI). This briefing summarizes the feedback from workshops and an alpha-test of the ICI tool.
Document Highlights
From May to August 2002, the Conference Board developed a framework for assessing corporate innovation capabilities and performance, with hands-on assistance from an engaged group of advisors. In September 2002, 66 Canadian corporations completed the alpha version of the Index of Corporate Innovation (ICI) survey tool. Subsequently, the Conference Board conducted seven workshops across Canada, with almost 100 participants, to discuss their innovation experiences and test results.
The ICI survey tool includes quantitative and qualitative questions relating to corporate culture and leadership, workforce capacity, organizational processes and structure, collaboration and partnerships, investment in innovation, and innovative performance. Survey respondents ranked their organizations highly with regard to innovation vision, culture, and leadership, but lower with regard to related business processes and innovation performance.
Feedback on the ICI survey tool and on the overall Conference Board initiative was overwhelmingly positive. Given the positive feedback, the Conference Board is moving quickly into the project’s beta phase. In the coming months, we will modify the tool, include customized modules, and put the survey on-line. Over the long term, we will build an international sample and will issue benchmarking reports, rankings of firms, and customized research reports for sectors and regions.
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