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.
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.
The responsibilities of a corporate Chief Innovation Officer in a large, established enterprise are far too great to realistically be handled by one person, no matter what super hero powers they may possess. Over the next few weeks I am going to write about the roles that I believe are critical to the success of any effort to transform the innovation performance of an organization.
The Chief Innovation Officer must look beyond strategy and process to create and nurture a culture conducive to innovation. This can be a tremendous challenge in large, established enterprises that have been focused on efficiency for decades. Nurturing a culture of innovation means redefining success for those that work in the functions supporting innovation. It doesn’t mean changing the entire company.
The ability to sustain innovation performance over time requires the Chief Innovation Officer to evolve innovation business disciplines and competencies. We can get a short-term improvement in performance by shifting the mix in the innovation portfolio and pushing breakthrough initiatives into market, but the ability of the organization to do these things repeatedly is the key to long-term success.