Indiana Business Council Innovation Survey

Indiana Business Council Tackles Innovation

INDIANAPOLIS — Two thirds of Indiana Business Council (IBC) respondents feel their business culture fosters innovation.  That’s just one of the findings from the most recent survey of the IBC, formed by Walker and Inside INdiana Business.  Fifty-nine percent feel their company is effective at innovation, while 13 percent disagree. 

This study reports on how respondents feel about innovation within their companies. The findings include:

• 68 percent feel their company is willing to take risks
• 53 percent say all employees are responsible for innovation
• 67 percent believe their corporate culture fosters innovation
  

“Innovation at Hoosier companies is alive and strong but the survey findings show there is room for improvement,” says Gerry Dick, president of Grow INdiana Media Ventures LLC and host of Inside INdiana Business with Gerry Dick.  “We continue to see a gap between the views of company leaders and employees when it comes to the corporate culture of innovation. But a strong majority of Hoosier respondents believe their companies are willing to take risks.”

The study suggests some respondents may not know how innovation fits into their workplace:

• Only half feel their company responds positively to failure.
• 20 percent say their company does not respond positively to failure.
• Only one-third feels they have control over the resources needed to explore new ideas.

There is also a large perception gap between CEOs and staff-level employees.

• 80 percent of CEOs believe their culture fosters innovation, while only 55 percent of staff agrees.
• 85 percent of CEOs believe their company is willing to take risks, compared to only 53 percent of staff.
• 74 percent of CEOs feel they reward their employees for creativity and exploration, while 42 percent of employees share that view.

Created by Walker and Inside INdiana Business, the Indiana Business Council is an online panel that monitors the trends of Indiana business.  New studies will launch every other month, featuring a short survey developed by Walker focusing on a specific, timely business topic.  Currently, the IBC has more than 4,000 participants.

To learn more about the results of each study, tune into to Inside INdiana Business with Gerry Dick, which airs on 15 television stations statewide. For additional information or to participate, visit www.IndianaBusinessCouncil.com.

About Inside INdiana Business

Inside INdiana Business is Indiana's Business News Leader. With a fully-integrated portfolio of television, radio, Internet, permission-based email and on-demand business news products, Inside INdiana Business delivers superior journalism trusted by an educated and affluent audience.
Headquartered in Indianapolis, Inside INdiana Business has developed a network of the state's leading television, radio and print mediums to deliver the business news only Indiana's Business News Leader can provide. As a result, our daily business news can be watched, heard and read in Indiana, Michigan, Illinois (including Chicagoland), Ohio and Kentucky.

About Walker

Walker Information, Inc. is a privately held consulting firm specializing in customer loyalty and related customer strategies, including innovative approaches to accelerate growth and increase profitability. Helping businesses for 70 years, the firm provides tailored, comprehensive solutions to help companies obtain, segment, value, retain, and grow customers. Walker works with some of the world’s most influential businesses as well as emerging organizations of all sizes. For more information, please visit www.walkerinfo.com.