This paper investigates the key factors influencing the development of innovative organization in Thailand. The multi-industry survey is conducted for the management level of the firms registered in the Stock Exchange of Thailand (SET). The survey is used to explore the organizational characteristics and measure the level of innovativeness in each organization. The result of factor analysis concludes five factors pertaining to the development of an innovative organization in Thailand. Those factors are: 1) organizational culture 2) human resource development 3) support on physical aspects, 4) commitment from management team and 5) vision and goal sharing. From the regression analysis, it indicates that among the five factors, commitment from management team is the most influential factor.