I met with a Chief Technology Officer earlier this month to talk about innovation.
He was clearly frustrated by his organization.
The Chief Innovation Officer needs a coalition of executives to successfully transform the innovation competencies of a large, established enterprise. The head of marketing for the corporation should be a key ally.
Today, we are continuing the discussion of executives that the Chief Innovation Officer needs to include in the coalition that guides the transformation of innovation capabilities, capacity and business results. The presidents of business units, or whoever has line accountability, within your corporate structure should be key allies in the transformation.
Successfully transforming the way a company delivers results from innovation is a complex undertaking that requires a coalition of executives. The Chief Innovation Officer needs allies. The chief financial officer should be a key ally. The office of the CFO might be the first one you should visit in your early effort at building commitment to the task.
I met with a former client last week to get caught up on life and his work in innovation. He leads the innovation and product development program office for a large, global life sciences corporation. The primary responsibilities of the group are management and execution of the portfolio management and program review processes, resource allocation, and innovation performance reporting.
Once upon a time a long time ago there was a young man that escaped his boyhood home and made a place for himself in the idyllic islands of Hawaii. He fell in love with the green mountains, white sands, blue waters, and one particular local gal. The two of them got married, had a houseful of kids, and made a rich life in a colder environment.
Business strategies are often communicated with a liberal dose of the word innovation and a clear statement of organic growth goals. What is just as often left unsaid is how much of that growth is intended to come from innovation and what form innovations needs to take. The lack of a clearly articulated innovation strategy is a chronic problem across organizations in every industry.
The Chief Innovation Officer has a multifaceted set of responsibilities that require an array of skills. Improved business results is the goal and being able to measure those results is important to gauge effectiveness, but we also need to define the company’s destination by formulating and communicating an innovation strategy.