The Innovation Officer: A Proposal for Companies Where Innovation is Vital

InnovationOfficerThe idea of a Chief Innovation Officer assures the ideas that come through the company have commercial value aligned with business strategy.Innovation is now seen as a vital cog in the ways that companies grow, with many claiming that it is the single most important way for companies to expand today. It is for this reason that the creation of a formal position focused around innovation should be a priority for business executives.

TheInnovationEnterprise has published a whitepaper on this topic (link).  Their whitepaper aims to discuss the rise of the role in the boardroom, as well as investigates factors that are currently slowing the pace of hires for this position. They look at which companies are utilizing the position the most and why the role is increasing in popularity.

Even though companies like Google and Apple have made billions of dollars from diversifying their products or coming up with new ones the responsibility for  innovation for most companies is left as an extra task for an existing executive.  The  CINO position is structured to improve the company’s innovation performance via the following characteristics;

  • Allows for Real Game Changing by Having Influence at the Board Room Level
  • Quick Evaluation of New Ideas
  • Promotes Group Thinking and Employee Support
  • Increase Inclusivity Including Open Innovation
  • Reward Efforts of the Often Unsung Innovation Efforts

The Chief Innovation Officer role is undoubtedly increasing in popularity and scope, with more industries and individual companies now making the most of the new role and the potential it has.

Download the white paper from InnovationEnterprise.com

 

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