What exactly is innovation? Is it about creating a new product or simply being creative? Is innovation itself something that we can create within our businesses and if so how? Do we even understand the impact that innovation can have within an organisation? Let’s face it there are thousands of books out there on business and innovation and yet when we asked senior corporate leaders to define innovation everyone gave completely different answers.
“Innovation is not a thing someone can build. But it is an outcome, an end result of doing some really cool stuff within an organisation.”
What is the biggest challenge of corporate innovation? How is it different between the US/European market and the Asian market? Whilst there are socio-cultural differences across the world, globally the fundamental challenge in driving innovation is the lack of innovation leadership capability. That’s not for the want of trying. Individuals who have set out to be good leaders have most likely been to a business school or taken advantage of any number of leadership development courses which are available worldwide. The challenge is that many of these courses are retroactive, helping people to be good leaders of an ecosystem that existed ten or twenty years ago. [More]