In 2006, I was invited to conduct a masterclass for a group of Nokia high potential managers on the topic of driving growth through innovation. At the time, the company was enjoying double digit growth. The were rated the eighth most innovative company in the world by BusinessWeek magazine. And they were winning market share on every continent. What could possibly…
The media is always ranking “the most innovative companies”-Forbes does it. Fast Company does it. The Economist Intelligence Unit even does it. But what do innovation rankings really measure and do they help business leaders understand the new rules of innovation?
Back in the mid-2000s, a new class of senior managers emerged at forward-thinking companies. Often called chief innovation officers, their job was to drive growth and transformation in a systematic way. But almost a decade on, are these leaders delivering the goods?
Today it is no longer good enough for organizations to simply be “innovative” occasionally. Successful companies will need to innovate quickly, constantly, effectively, and comprehensively; developing new products, processes and strategies. The ever-increasing level of competition simply demands it.
Product Lifecycle Management (PLM), a system driven by innovation, endorses Tucker’s assertion that creativity and innovation are vital to long term success and must be cultivated. “By recognizing and honoring the important role of creativity, and by encouraging people to further develop it, it’s possible to spur innovation at all levels of an organization,” says Robert B. Tucker.