Why innovation portfolios matter
At this point in business evolution, every CEO understands the need for more innovation. After a decade of reading about it, getting pounded over the head with the Jobs/Apple story and watching new innovations disrupt entire industries, businesses are starting to react. More and more of them are doing innovation, with drastically different outcomes. Some are successful. Many are making significant investments and have had little success. Some are frankly abject failures. What I constantly fail to understand is why innovation is treated so cavalierly, with so little regard for planning and integration to strategy. In many cases it's as if executives throw up their hands and succumb to the idea that innovation is black magic. Innovation does require creativity and expansive thinking. It requires divergent thinking and exploration, the willingness to explore customer needs and market trends. It can require creating new products or servi...