Daily Research News Online no. 2766 - Corporate Innovation: Who's Driving?

Corporate Innovation: Who's Driving?

November 26 2003

A new study of corporate innovation in the US sheds light on the influence of innovation leaders, and the extent to which their job functions dictate the choices they make for the direction of the company. The report, by strategic consulting and research firm, Cheskin and the international design firm, Fitch:Worldwide, is available for free online.

According to the authors, leadership 'not only sets the tone for innovation, but also influences which market trends will dominate the process... in a sense, choosing an innovation leader is equivalent to choosing a view on the future'.

The most influential trends in a company's business decisions were perceived to be as follows:

Function responsible	Key influence / emphasis on...
Overall	Sustainability
Executive management	Authenticity
Cross-disciplinary teams	Connectivity, Cultural Blending and Advancing Biotechnology
Product development teams	Connectivity, Simplicity and Life Extension
Marketing teams	Convenience and Mobility.

'From what we know about the objectives of each of these business areas, it's fairly clear to see why they are focused on differing trends', according to Christopher Ireland, Cheskin's CEO. 'However the more important implication here is that businesses need to be highly aware that innovation outcomes will change depending on who leads them. Keeping innovation aligned with corporate vision and strategy requires a deeper understanding of what drives various departments, and the risks and benefits of making them responsible for innovation'.

The report contains results gathered from three phases of research including internal interviews and expert interviews with innovation leaders, but focusing on an online survey of 544 executives with senior decision-making authority in July 2003, across the US and in a wide range of industry sectors. In-depth questions covered their companies' innovation practices, including specific approaches, level of authority and leadership, spending trends, success metrics and the influence of major industry trends.

Much of the information gathered is available for free online in a report, Fast, Focused & Fertile: the Innovation Evolution - this can be downloaded from the Cheskin or Fitch:Worldwide web sites - www.cheskin.com or www.fitchworldwide.com

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.