All too often, corporate approaches to innovation focus solely and simplistically on new technology—at the expense of other important ingredients
At the expense of developing the organization, corporate approaches to business and society required for anything new to be implemented, monetized and adopted.
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for AdAgephoto: i-stock
But labs wither away, innovation officers leave and consultants’ recommendations are eventually dismissed.
Most of the time, the definition is lacking. According to dictionaries, innovation is “the action or process of innovating” (thanks). The executive mandates are still not clear. The role descriptions are vague. The process and the practice are isolated. Too often, the corporate approach to innovation focuses simplistically on advances in technology—at the expense of developing the organization, business and society required for anything new to be implemented, monetized and adopted.
A more comprehensive approach to innovation would ask companies to: a) define the role of a particular innovation, initiative or practice in driving the business and brand forward (strategy); b) explore how to use it to convey the brand message and deliver a great experience (creative); and c) to define the plan, processes and methodologies needed to implement it successfully (operations).