There has been a lot written about open innovation concepts and the value of broad collaboration with experts in different fields. There is also a large and growing cadre of consultants that can help improve different aspects of innovation. What I don’t see very often is a structure that incorporates outside perspectives on an ongoing basis on the major decisions facing a Chief Innovation Officer.
Just because you know exactly what the company should be doing in innovation, doesn’t mean anyone agrees with you. The Chief Innovation Officer must ensure that everyone is rowing the boat in the same direction. A lack of alignment, particularly across business units and functions is a chronic problem in innovation.
The highlight of my week was speaking at an industrial client’s internal “Growth & Innovation Forum” in Allentown, PA. The event gathered hundreds of innovation professionals from within the company to talk about the opportunity to drive growth from innovation. Dozens of other people from around the world participated via live video link even though in some places it was the middle of the night.
I am still digesting the results of Planview’s Fourth Product Portfolio Management Benchmark Study. I encourage you to read the report as well. Earlier this month I wrote about the need to align the company’s innovation portfolio with it business strategy. This challenge was highlighted in the benchmark study results.