Faced with an increasingly competitive landscape, a large real estate company was keen to clarify and solidify its industry advantage through developing a thriving and veritable culture of innovation.
Our team began by conducting an innovation readiness assessment through interviews with the firm’s senior leadership team and selected candidates from different business functions and seniority levels. The assessment evaluated six pillars: leadership, interaction with external environment, structure & diversity, support mechanisms, encouraging behaviour, and communications. Our team also conducted an organisational network analysis, using a state-of-the-art data analytics tool through our UK-based partner Complete Coherence, to identify team and business dynamics within the organisation: primarily connectivity, hierarchy and distance. This allowed us to produce substantial, objective data during the audit phase to support crafting a pragmatic and effective program.
In alignment with the business’s new corporate strategy, we developed an innovation management process, including an idea evaluation tool and recommendations for an idea management platform. In parallel, a recognition process was designed to reward leading innovators and collaborators, fostering a more creative culture in the company. Finally, we developed a separate innovation function within the firm, identifying its scope, structure, and required resources to spearhead the innovation process.
As a result of our work, the company was able to design a relevant and pragmatic innovation process which provided them with further insights beyond the scope of our assignment. This rich data helped the team to implement further company initiatives beyond the initial innovation which we supported. The company now has an innovation process and guidelines that are aligned with its structure and culture, replete with Innovation Manager and Officers. The firm also rolled out the reward and recognition framework developed by CID across its entire performance management process.
“We would like to thank the CID team for all the long hours and dedication to designing our innovation process. The execution of this innovation process was supported with CID’s organizational network analysis tool, which provided great insight within our organization, allowing us to gain a deeper understanding of its functional, social and strategic networks. The CID team worked closely with our team throughout the process, providing strategic and consistent support. CID’s professional and timely commitment really has helped us kick start our innovation process. Thank you for making this happen!” Heba Makhlouf, Head of Investors Relation and Innovation