In mine the last postI talked about the exciting and vital role of innovation accelerators in empowering young startups and gave examples of how they can transform businesses. Since that post was published, the prestigious Harvard Business School introduced the ICL Group Project GREAT in a new case study titled “From 'BIG' ideas to lasting impact at ICL Group.”

The Harvard study highlighted some significant points that I want to discuss today. The purpose of this article is to provide a practical guide on how to actually enter one the culture of innovation in your organization.

Harvard Business School analysis of the BIG project

The BIG (Business Innovation for Growth) program is a flagship ICL leadership program that engages with company employees and gives them a structure to pitch ideas. Ideas are evaluated centrally and those with potential are developed by business units. BIG broke down existing silos and rapidly expanded from an initial commitment of 3,500 employees to a comprehensive international program involving all 12,500 employees and operating in multiple languages.

Since its inception, BIG has focused on the core principles of universal cooperation and a standardized process for (rapid) idea execution. The results are impressive:

• 4748 original ideas submitted to BIG
• 1,584 projects approved and officially launched
• 1154 projects completed according to defined goals and metrics
• $262 million in final annual operating income

Related: Creating a culture of innovation starts with the leader

Creating a culture of innovation

Most organizations recognize the need for a culture of dynamic innovationbut they either don't understand what that really means or aren't sure how to achieve it. Some also try to clearly define the benefits of a culture of innovation, which include being competitive in an evolving market, fostering employee satisfaction, and fostering continuous improvement.

We are in Industry 4.0 and a new technological revolution, plus a period of rapid changes in consumer culture. Innovation is vital to businesses; those who cannot renew will fall by the wayside as much as possible resourceful and innovative competitors dominate markets.

4 key steps to embedding a culture of innovation

I feel very strongly that the urge to innovate is intrinsic to all human beings (it's how we survived a hostile environment and evolved as a species). The problem is that in hierarchical, highly structured or system-dominated organizations, innovation can easily be stifled.

1. Leadership: By fostering innovation and being actively involved, leaders can create a functional framework for the free exchange of ideas and create a new corporate culture.
2. Employee engagement: Dynamic innovation must involve employees at every level. Platforms must be inclusive and accessible, and they must recognize and reward successful contributions. Most importantly, there should be no shame is associated with failure or rejection.
3. Structured programs: Structured programs create a framework for innovation. Employees know exactly how to submit an idea to the program and that it will be objectively evaluated by experts outside their chain of command. Each phase of the program has defined metrics and methodologies and is measurable.
4. Technology and human infrastructure: Innovation programs are at their best when there is one optimal balance between technological tools and human enthusiasm and initiative to optimize innovation programs. Technology can provide a decisive competitive advantage, but it's the human passion for innovation that bridges the gap between a good idea and an amazing new product.

Related: Do you want to create a culture of innovation? Ask these 3 essential questions.

The benefits of employee-driven innovation

Employee-driven innovation offers a host of benefits to any company. These range from directly measurable such as improved storage to the intangible. One thing I've noticed—and it's obviously entirely subjective—is that truly innovative organizations have a completely different vibe and employee energy than their moribund counterparts.

One of the first benefits of a successful innovation program is that it boosts creativity and problem solving across the board. When employees see that their ideas are valued, they gain new confidence and enthusiasm to embrace creative thinking and problem solving. Expect a rush of creative solutions to business challenges.

Creative environments that reward innovation—and never stigmatize failed innovation—boost employee morale and retention. Employees who have the means to contribute and affect the growth of the company tend to become very loyal – especially when their efforts are properly recognized.

Employees come from extremely diverse backgrounds and bring unique perspectives. A junior intern, a receptionist, or a truck driver will have knowledge and cultural awareness that a VP may not have. Their insights and ground-level view of market segments and gaps can really contribute to organizational growth and adaptability. A collective culture of innovation prepares companies to adapt to market changes and take advantage of new opportunities.

A culture of innovation: Key challenges and solutions

In every business, there will (hopefully) be breakthrough ideas that upend an established way of doing things, identify revolutionary new materials, realize an unmet need, or open up entirely new markets. When companies achieve a culture of innovation, they find that most new ideas are the result of close collaboration within or between teams.

Putting the right people together, giving them forums to join, and allocating the right resources to R&D can increase the volume of new ideas. A diversity of talent, drawn from different disciplines and backgrounds, can also increase the frequency of vital disruptive ideas that go beyond the core business responsibility.

There are lone geniuses who produce disruptive concepts, but it is my experience that if you want a steady stream of transformative innovations, you need motivated teams working within structures, enabled by great resources and proactive leadership.

Related: Fostering a culture of innovation and what it takes to get it right

Take the first step towards an innovative culture

We are in a time of unprecedented technological advances. It is the ability to develop a culture of innovation that will separate the winners from the losers across the business ecosystem. Even established industry leaders will benefit from employee engagement and retention, and a workplace culture that solves problems at every level and delivers unique ideas that open new markets and launch new products.

You can take the first step toward a culture of innovation by adopting these proven principles that show success. It's definitely one of the best programs of its kind I've ever seen, and it's a working template for other businesses to copy!