More than 500 Innovation Quotient surveys completed
More than 500 companies across Michigan, Ohio and Illinois have completed the first Innovation Quotient survey from Plante & Moran and the NewNorth Center in Holland.
Manufacturers, financial institutions, health-care providers and other businesses in the three states completed the proprietary survey, which was designed to measure: a company’s attitude toward innovation; the business value of innovation; drivers and catalysts for innovation; and variables of process, budget and corporate culture and how they impact an organization’s innovation quotient.
Plante & Moran, a public accounting, tax and business advisory firm, and NewNorth, an executive education and innovation training institute, are compiling the survey results and expect to release a white paper later this summer.
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.”
“The IQ survey represents the first successful, broadly utilized analysis of innovation in the Midwest,” said Nate Young, president of NewNorth Center. “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 survey 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 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.
The NewNorth Center is a nonprofit organization that specializes in immersive skills training, research, executive education, workshops, seminars and an annual Design in Business Summit. Young launched NewNorth in early 2009 with seed money and backing from the Lakeshore Advantage economic development group and Brooks Capital Management.
Young was previously executive vice president and chief academic officer of the Art Center College of Design in Pasadena, Calif. Prior to that, he was a vice president of design and global product development at Prince Corp. and Johnson Controls Inc. in Holland.
Plante & Moran is among the nation’s largest certified public accounting and business advisory firms, with 21 offices throughout Michigan, Ohio and Illinois, plus international offices in China, Mexico and India.