Clarifying Innovation for Success
Upcoming Event CEO2CEO Leadership SummitJoin innovation expert Mark Johnson and other CEOs and business experts at the 12th Annual CEO2CEO [...]
November 2 2010 by Ceo Briefing - Nov. 2 2010
|CEO2CEO Leadership Summit
Join innovation expert Mark Johnson and other CEOs and business experts at the 12th Annual CEO2CEO Leadership Summit
|December 2, 2010|
|Learn More & Register|
You can’t manage innovation if you don’t clearly understand what it is. To define innovation, start by distinguishing new-business innovation from core-businesss innovation, says Innosight’s Mark W. Johnson.
Far from being an occasional creative eruption, innovation is the engine of long-term business growth. To generate consistent returns and sustain performance, companies must continually refresh their portfolio of offerings and the business models that drive them.
He sums it up in three words: newness, commercialization, and impact.
Too often what companies think of as innovation efforts are really isolated invention initiatives that, in lieu of institutional support from the parent company to find a path to market, are doomed practically from the start. In addition, core innovation thrives under the management systems already in place in the core business, but new-business innovation needs to be managed with an entirely different approach.
Johnson is speaking at the Chief Executive Group’s upcoming CEO2CEO Leadership Summit.
For more from BusinessWeek about Johnson’s view of innovation, please click here.