June 2021 | Resource

Practical Innovation: The Ultimate Guide

Clear processes and idea criteria lead to fast-paced experimentation and better management of ideas

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Practical Innovation: The Ultimate Guide

When West Monroe was founded in 2002, one of our company values at inception was “practical innovation.” Not just innovation, but practical innovation. 

Here’s what we mean by that: Solving problems that matter with real commercial application. Not innovating for the sake of creating something new or “cool,” but attacking the issues—whether your own or your customer’s—with new ideas or solutions to provide meaningful value. 

The avid desire to innovate comes from the highest circles in corporate organizations—45% of CEOs say they are carefully planning and investing in innovation by “playing offense.” But 15% of CEOs called their recent innovation serendipitous, something born from a “happy accident.” Wouldn’t it be better if more of your innovations weren’t an accident? 

That’s what we think. And it’s why we define our innovation process rigorously. While many organizations are wary of adding structure and bureaucracy, we have found that they fuel innovation, not stifle it. Clear processes and idea criteria lead to fast-paced experimentation and better management of ideas. 

Indeed, stricture is what allows our people to focus their brain power on where the most value can be created, both for our clients and for our own organization. It’s the way we innovate, practically. 

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