It takes a while to grow an idea into a commercially viable product. One of the quickest ways a chief innovation officer can drive early results from innovation is to characterize and shape the existing portfolio.
Growth strategies are changing. When the options of expanding markets, investing in efficiencies and mergers and acquisitions are exhausted, what’s left? Growth from innovation. But ensuring a return on innovation strategy takes more than conviction - it is essential for the new Chief Innovation Officer to have a framework for approaching the challenge of growth.
Innovation is not a part time, one-person job. It takes a team and a leader who understands the need to balance between the technical and commercial worlds. With the right balance and team, the chief innovation officer can produce real results from innovation.
When the entire executive team is focused on COGS reduction, then a growth from innovation business strategy is never going to work. What should a CINO do?
My thoughts on Scott Anthony’s HBR article, “Building an Innovation Engine in 90 Days”.
At the Innovate, Achieve & Mentor Conference, Bill Poston was the only male speaker on the agenda. Here are his tips for helping women excel in technology-related fields (and business in general).