More than 500 companies across the Midwest responded to the first-ever Innovation Quotient survey from Southfield-based Plante & Moran PLLC and the Holland consulting firm NewNorth Center.
Manufacturers, financial institutions, healthcare providers and other businesses in Michigan, Ohio and Illinois completed the proprietary survey, which was designed to measure:
* Attitudes toward innovation
* Business value of innovation
* Drivers and catalysts for innovation
* Variables of process, budget and culture and how they impact the innovation quotient for an organization
The public accounting, tax, and business advisory firm, along with the executive education and innovation training institute, will tally the survey results and expect to release a white paper later this summer. Additionally, all survey participants will receive a customized report benchmarking their organization’s Innovation Quotient against best-in-class practices.
“We were extremely pleased with the depth and breadth of companies that responded to the first Innovation Quotient survey,” said Gordon Krater, Plante & Moran managing partner. “As a region, we recognize the important role that innovation plays in our continued business growth and success. The IQ Survey will give Midwest companies an important benchmarking tool to compare themselves with their peers and incorporate best practices into their operations.”
Nate Young, President of NewNorth Center, agreed, noting: “The IQ survey represents the first successful, broadly utilized analysis of innovation in the Midwest. We are working to distill the lessons learned from the 500-plus respondents and provide valuable feedback to the companies and organizations that participated. We were pleased that so many C-suite executives took the time to respond, and we look forward to presenting our results later this summer.”
The Innovation Quotient is designed as an ongoing, annual study that will help determine innovative practices and benchmark the importance of, and capabilities in, innovation in the Midwest.
NewNorth Center and Plante & Moran partnered with numerous co-sponsors in three states to secure survey responses, including the Chicagoland Chamber of Commerce, Cornerstone Chamber of Commerce, Detroit Regional Chamber, European American Chamber of Commerce, Grand Rapids Area Chamber of Commerce, Holland Area Chamber of Commerce, Illinois Manufacturers’ Association, Lansing Regional Chamber, Lakeshore Advantage, Ohio Manufacturers’ Association, The Right Place, PolymerOhio, Inc., Southwest Michigan First, TechSolve and the Traverse City Area Chamber of Commerce.