Significant growth from breakthrough innovation is very difficult to achieve in large organizations.
Large company investment in breakthrough concepts has been falling for twenty-five years. Our largest organizations are simply not designed to deliver results from innovation. The cross-functional nature of successful innovation means that organizational accountability only comes together in the office of the CEO, and our Chief Executives have their hands full with more than a few other responsibilities.
Enter the Chief Innovation Officer.
In 2012, over 43% of large corporations had a single senior executive formally accountable for innovation. This was up by almost a third in a single year. This makes the Chief Innovation Officer the fastest growing executive role in recent memory. But what does a Chief Innovation Officer actually do? That is the question we are here to explore.