Adventurous as the word innovation may sound, an innovation consultant’s job consists for a large part in de-risking the innovation process. In order for innovation to be a viable undertaking for any company, the outcomes of the innovation need to be maximized, while the risk involved needs to be contained as much as possible.
There are plenty of examples of innovation program failure at large organizations. In this article, I examine the key markers that I have observed, that indicate a program may be in trouble and at risk of failure.
Amy Radin became one of America’s first Chief Innovation Officers when Citigroup appointed her to the role in 2005. She is currently Chief Innovation officer at E*Trade Financial, the leading online discount stock brokerage. Amy talks to Innovation Management about what it takes to be a head up on innovation in a major corporation.
Can an organization dramatically improve the quality, speed, and profitability of their new product projects while driving down the risk of failure? Absolutely! Organizations that rely on new products, technologies, and platforms to create customer value, grow market share, enter new markets, increase their profitability, and even alter market and competitive landscapes. In this article Chester Baker, Head of Global Innovation for Abbott Nutrition shares the winning formula for driving innovation in his company.