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Innovation Management for Established Businesses: Management Matters

The Conference Board of Canada, 113 pages, August 21, 2014
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This report outlines key innovation management principles for established businesses that wish to innovate to improve their competitive position. It illustrates them using findings from interviews with 16 leading innovative companies.

Document Highlights

This report focuses on the specific challenges facing established businesses that wish to innovate to improve their competitive position. We distill key innovation management principles for these businesses and illustrate the principles using findings from interviews with 16 leading innovative companies. A company’s strategy determines innovation, which is a means to achieve strategic objectives. Innovation is difficult and risky, and requires strong leadership. Innovation starts with a process of asking the right questions to the right people in such a way that they generate new ideas. The company winnows these new ideas down to a few priorities that could significantly change the firm’s products or services, processes, organization, or marketing. It then puts these critical few into a process to take them from idea to implemented solution.

Table of Contents

Executive Summary

Chapter 1—Introduction

  • About This Report

Chapter 2—Why Businesses Innovate

  • What Is Innovation?
  • What Is Management?
  • Innovation Management
  • Why Businesses Innovate
  • Where Do Businesses Innovate?
  • Conclusion

Chapter 3—The Leadership Imperative

  • Innovation Is Not for Everyone
  • The Leadership Imperative
  • Innovative Leaders’ Distinguishing Characteristics
  • Innovation Leadership in Practice
  • Innovative Managers: Born or Bred?
  • Conclusion

Chapter 4—Building Innovation Into the Business

  • Strategy Sets the Objective; Innovation Is the Means
  • Product and Service Innovation
  • Process Innovation
  • Organizational Innovation
  • Marketing Innovation
  • Elements of Effective Strategy
  • Structures
  • Conclusion

Chapter 5—Managing the Innovation Process

  • Generating Ideas
  • Employee Engagement and Communication
  • Conclusion

Chapter 6—Takeaways

  • Bold Leadership Is at the Heart of Innovative Companies
  • Strategy Determines the Innovation Effort
  • Structure Organizes the Innovation Effort
  • Resourcing the Innovation Effort and Staying the Course
  • Innovation Process Management Matters
  • It’s People Who Innovate

Appendix A—Bibliography

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