The “obvious” value of innovation is easy to see and communicate. The unique products, business models, customer services and other “tangible” innovations are usually enough to justify the existance of an Innovation program. But what about justifying an Innovation program when you don’t have an existing track record? When times are hard, budgets tight and groups are fighting for survival, fledgling Innovation teams and programs may be an easy target for “right sizing”.
So if your Innovation team isn’t delivering the next iPod, “name your own price auto insurance” or Nintendo Wii, what value are you providing? To answer this question, we need to take a step back and look at a typical corporate culture. Read the rest of this entry »