How McKinsey’s Organizational Health Index Relates to Innovation
McKinsey’s Organizational Health Index (OHI) helps organizations improve their effectiveness and management’s performance. Sunshine Coast Credit Union used OHI to identify areas for improvement, including bottom-up innovation. They launched an innovation management platform and saw significant improvement.
How to reduce innovation risk
Innovation introduces new risks to operation models that may lead to cost and unpredictability. There are five ways to reduce innovation risk, which include aligning innovation to strategic goals, having executives provide resources and funding, and conducting innovation at speed.