Innovation comes at a price, and often, that price includes being willing to take your lumps when ideas don't pan out. Taking risks, however, means that your corporate culture has to support trial and error and be willing to take the losses along with the wins. And don't despair when things don't work out--even knowing something doesn't work can be useful. Also, be willing to consider ideas from outside the IT organization, because one of those ideas just might be a winner, and get feedback on everything you try from your customers. Finally, as CIO, take charge of the innovation process. That means finding the resources to bring good IT ideas to fruition.

Learn more about fostering IT innovation:
- read the article at ComputerWorld

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