In 2007, The Mayo Clinic conducted a study to figure out the best practices of companies that most often succeed at innovation. As a result, they unearthed five traits that these companies share.
Belief System: Defining innovation and enforcing your mission with all of your employees is necessary from day one.
Structure Equals Commitment: Structure will allow you to set goals, grow and decide which products will receive funding.
Process that Leans on Research: Companies who spend time together during the invention stage produce better results.
Talent Encouraged and Rewarded: Talent acquisition will determine the innovation outcome.
Connected Culture: Keeping all employees connected and accessible to each other’s ideas.
These traits are just the tip of the iceberg; not only read these practices, but enforce them for years to come. Execute these traits and keep the creative juices flowing.
Check out the article in depth here: http://www.forbes.com/sites/marymeehan/2014/07/08/innovation-ready-the-5-traits-innovative-companies-share/