Released on = June 25, 2007, 8:27 am

Press Release Author = iSixSigma Magazine

Industry = Marketing

Press Release Summary = Bainbridge Island, Washington (June 25, 2007) - With a vast
majority of companies professing to want \"innovation,\" those that rate their efforts
most effective say they rely on a clear strategy and systematic methodologies,
according to a new survey released in the July/August 2007 issue of iSixSigma
Magazine.

Press Release Body = Bainbridge Island, Washington (June 25, 2007) - With a vast
majority of companies professing to want \"innovation,\" those that rate their efforts
most effective say they rely on a clear strategy and systematic methodologies,
according to a new survey released in the July/August 2007 issue of iSixSigma
Magazine (www.isixsigma-magazine.com).

The survey included responses from 1,000 Six Sigma professionals around the globe.
\"More than 900 of the respondents, or 91 percent, said their companies are engaging
in innovation,\" said Michael Marx, research manager for iSixSigma.

Within that group, 81 percent of those that rated their program \"effective\" said
they had a clear strategy driving their innovation efforts. A similar percent of
\"effective\" programs also use a systematic process or methodology for innovation.

The measures of effectiveness varied, including ROI, success rates of new
products/services, new product sales as a percent of revenues, and numbers of new
products/services hitting the market.

The survey also explored factors that contribute to having a strategy and
methodology. Only 22 percent of the respondents said their company had a chief
innovation officer (CIO). \"But those companies were three times more likely to be
approaching innovation systematically,\" commented Marx.

And there was one more link in the chain. \"These success factors - having a CIO, a
clear strategy and a systematic methodology - were far more common in companies that
had well-established Six Sigma programs,\" said Marx. He added that the link was not
surprising because Six Sigma is a business improvement methodology that emphasizes
the need to establish processes and clear responsibilities.

Overall, the survey clearly indicates that companies need to pay more attention to
how they are structuring their innovation programs. \"Only 13 percent of the total
group of respondents rated their innovation programs as effective. The other 87
percent rated them as only somewhat effective or ineffective. That\'s a huge
opportunity. Many organizations can learn from the successful companies: Having a
strategy, a corporate leader and systematic approaches are critical to improving
effectiveness.\"

Contact:



Web Site = www.isixsigma-magazine.com

Contact Details = Michael Marx
Research Manager
iSixSigma Magazine
+1-847-919-0922 x8859
https://www.isixsigma-magazine.com/subscribe.asp
http://www.isixsigma.com/research