Managing innovation has been a challenge for most organizations, as it requires specific skills of companies that when well managed, can result in gains in competitiveness, but when not well managed, can lead to stagnation and loss of market share. In this context, this paper aims to identify gaps in the management of innovation of companies of the Instituto Paulista de Excelência da Gestão and Fundação Nacional da Qualidade São Paulo Institute of Management Excellence and National Quality Foundation], based on the methodology of the Innovation Forum of the FGV/EAESP, which is based on five competencies of the innovative organization: leadership and strategic intent; internal innovative environment; people; processes of innovation; and results. For this purpose, a quantitative study was carried out. A survey was adopted as our research method. We then performed confirmatory factor analysis, data purification, according to the reliability indicators, analysis of the structural model, and regression analysis. An online questionnaire was sent to all the companies of the Instituto Paulista de Excelência da Gestão and Fundação Nacional da Qualidade, and 93 valid responses were received. The results showed that the competencies “innovative environment”, “people” and “processes” are responsible for the performance obtained in the “results” competence. Only “leadership” competence did not appear as a determinant of the results. As a contribution, the paper draws attention to the difficulties faced by organizations in creating the result of innovation, placing it as a consequence of the competencies that preceded it.