Are chief innovation officers more style than substance?

Survey finds that most companies lack explicit innovation strategy
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A greater number of companies have chief innovation officers this year than last year, but the position may be more style than substance. According to a new report by Capgemini Consulting and the IESE Business School, most companies do not have an explicit innovation strategy, reports Frederick E. Allen at Forbes.

The report, based on a survey of 260 innovation executives, found that less than one-third of the participants believe their organizational structure for innovation is effective. A measly 21 percent reported that there is an effective key-performance-indicators system in place for promoting and measuring innovation.

Allen notes that while 91 percent of the respondents said employees get involved in innovation because it is exciting, 46 percent of the respondents said they're involved “simply because it's their job.”

“Perhaps that makes it no surprise that only 24% of the respondents think they have an 'effective organizational alignment of innovation efforts,'” Allen writes.

The study found that the greatest limiting factor when it comes to achieving innovation goals is “the absence of a well-articulated innovation strategy.” In large organizations there is a disconnect between executives who set the strategy and the employees who are charged with innovating. The researchers propose that the strategy be developed “in a more bottom-up manner.”

For more:
- see Frederick E. Allen's article at Forbes

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