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March 04, 2008

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James Todhunter

Ownership of innovation is very important. There is a single owner that must take responsibility for innovation. This person must have responsibility for setting and achieving corporate goals. This person must imprint the corporate culture with the value building importance of innovation. This person must allocate the resources to support innovation and build innovation competence as a sustainable driver of corporate value. This person is the CEO. The CEO can always elect to delegate authority to drive innovation, but woe unto the CEO that chooses to delegate responsibility.

Drew

Jim, I like your position on this. Perhaps I need to clarify better between: who owns "innova...TION" versus who owns "innova...TING." Big difference in my mind. Too often, I see where the innovation owner/champion also gets the "innova...TING" role (and the resources that go with it) to the exclusion of the rest of the organization. This is dysfunctional. Others shy away from innovation initiatives and opportunities (such as Goldfire, TRIZ, and SIT) for fear of rocking the boat.

In the ideal, I agree the CEO should own innovation. That is a model of success. There is an excellent paper from the Marketing Science Institute (www.msi.org) on this titled, "How Much Do CEOs Matter to Innovation?" You should be able to order it directly from MSI. If not, let me know and I will get one for you.

Thanks for insight, Jim.

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About This Blog

  • For thousands of years, inventors have embedded five simple patterns into their inventions, usually without knowing it. These patterns are the "DNA" of products that can be extracted and applied to any product or service to create new-to-the-world innovations. Drew Boyd shares how to use this effective, repeatable, and trainable innovation process for organic growth.

Innovation Sighting

  • "Innovation Sighting" is a monthly feature that demonstrates the use of structured innovation methods. A great way to develop one's skill at innovation is to be able to recognize the use of templates in everyday products and services.

Marketing Innovation

  • "Marketing Innovation" is a monthly feature that demonstrates innovation templates for advertising, promotion, and integrated marketing communication. It is based on the pioneering work by Professor Jacob Goldenberg and his colleagues in "cracking the advertising code."

Academic Focus

  • "Academic Focus" is a monthly feature that highlights an institution or professor who is doing an outstanding job bringing the tools and skills of innovation to the practitioner community.

The LAB

  • The LAB is a regular feature that demonstrates how to use innovation methods and tools. Blog readers are invited to pose a question or submit a product or service for The LAB . Drew will then show how to apply a systematic process to the product or service and create real, new-to-the-world concepts.