The good news for innovation-minded executives is that decades of research have highlighted clear patterns and principles to improve the predictability of innovation. Further, companies like P&G, Dow Corning, Johnson & Johnson, General Electric, IBM, Cisco, W.L. Gore, Google and many others show that innovation doesn't have to be random. In fact, innovation can be managed like a process with defined inputs, outputs, and performance measures.
Innovation remains a complicated subject. But the following three questions can help executives focus their effort:
1. Does my company have an Innovation Strategy?
2. Are we using the tactics the market uses to achieve our Innovation Strategy?
3. What is my personal commitment to innovation?
Source: Chief Executive