Many health care delivery organizations spread the responsibility for innovation or transformation across the executive team, with the chief strategy officer, the chief operating officer and all manner of other chiefs asked to work on various projects "part-time." In many others, the chief executive officer is felt to be the driving force behind innovation — both in conceptualization and execution.
Recently, the Capgemeni Consulting Firm in partnership with the IESE business school, asked the question: Does it matter that a single executive is designated as the innovation or transformation leader as a full-time endeavor, or is the distributed model really okay?
The results were clearly in support of the former. Corporate enterprises with a single executive charged with these responsibilities performed much better than those that did not — only 28 percent of enterprises, considered innovation "laggards," had made this move versus 59 percent of innovation "leaders."
I recently had the chance to interview George Day, professor emeritus and co-director of the Mack Institute for Innovation Management at the Wharton School of the University of Pennsylvania. He’s been working for over 25 years to understand what distinguishes consistent growth leaders from growth laggards.
Outlined in the infographic below are Day’s views on why certain companies get ahead through innovation prowess while others lag behind.
Day will discuss his groundbreaking research on innovation prowess at HX360 during HIMSS16 to help executives advance a new model of healthcare delivery.