Commitment to ideas is innovation.  Period.  End of Story.  Commitment to innovation is growth.  Period.  End of Story.

But, as the new 2008 futurethink Innovation Tracker Report discovers, commitment to ideas and innovation are still lacking.  I wish I could understand why, but I can't. 

In fact, using futurethink's key innovation capabilities of strategy, ideas, process and climate (part of their Innovation Diagnostic), they found the following key take-away's in this year's survey:

• Lots of talk, not a lot of action
• "Quick-win" innovation activity has increased
• A "Ready, Fire!, Aim?" approach is prevalent

Additionally, they found that while attention to ideas and climate have increased, the focus on strategy and process has fallen off since last year.  futurethink's reasoning behind these results are a fear of commitment and that many organizations are simply testing the waters.  Sounds logical.  They also opine that the faltering economy has some organizations a little gun shy about risk taking.

Okay...so the economy is bad.  Its bad for just about everyone, including your competitors.  But what if, while your competitors are burying their heads in the sand, cutting costs, and slashing prices...you are spending time educating consumers on why you are the industry leader, or developing new products, or conducting research on better understanding customer needs?  Or...in simpler terms...COMMITTING to innovation. 

You can't just dip your toe in the water and expect to succeed.  Do you take a half-assed approach to marketing, accounting, customer service or quality control?  Of course not!  If you did, you wouldn't be in business very long!  Innovation is no different.  Innovation is a business process just like marketing, accounting, customer service or quality control.  It requires commitment if you want to be successful.  

Leveraging innovation immediately gives you an advantage over your competitors.  It fosters growth.  It generates employee satisfaction.  It makes for happy, satisfied customers.  Would you take a "wait and see" approach to any other business process that provides competitive separation? 

My advice to you is to stop thinking of innovation as a fad or a part-time business process.  It isn't something for just the "good times." Treat it seriously.  Consider it as one of your "core competencies."

Additionally, get a copy of this futurethink report and read it.  (you may need to register to get the PDF)