Ed Konczal has an MBA from New York University's Stern School of Business (with distinction). He has spent the last 10 years as an executive consultant focusing on human resources, leadership, market research, and business planning. Ed has over 10 years of top-level experience from AT&T in the areas of new ventures and business planning. He is co-author of the book "Simple Stories for Leadership Insight," published by University Press of America.
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In a previous post about tone at the top I discussed this subject… The post appeared when the economic crisis of 2008/2009 was about to start. Now tone at the top and innovation governance are more important than ever.
Simply put, ‘tone at the top’ is the sum of the Board’s and the C-Level manager’s values, actions and communications. How these responsibilities are executed will influence the success of the enterprise through the near future and … Read the rest
Previous posts explained the growing importance of innovation governance and that it is not getting enough attention by Boards and C-Suite executives. Now let’s take a closer look at just what it is.
I think a good start is perhaps the world expert on the subject, Emeritus Professor Jean-Philippe Deschamps at the IMD Business School. He states:
Innovation governance provides a frame that defines the mission, focus and implementation of innovation in the company. It
Innovation is one of the top issues for Boards and senior managers.
Three recent surveys indicate:
|
Survey |
Finding |
| IBM’s 2010 Global Survey of CEOs (IBM, 2010) | CEOs cited creativity as the most important leadership quality over the next five years. |
| Ernst & Young, 2010, Connecting innovation to profit | They [top entrepreneurs] understand that innovation is the primary force that can catapult a company to market leadership and keep it ahead of its rivals. They know |
At first glance corporate governance and innovation seem to have no relationship.
Corporate governance is, or perhaps should be, a rigidly defined set of principles and practices that are well codified. Innovation, on the other hand is not well defined, being somewhat free wheeling and creative.
Organizations are facing unprecedented rapid change and an ever increasing demand for faster decision-making. They must adapt to changes both inside—such as multi-generational employees and changing organizational arrangements—and outside … Read the rest
My last post reviewed the major stakeholder groups who have an interest in good corporate governance. The focus of this post is that corporate governance starts with the Board of Directors.
Simply put, the Board reports to the company’s owners (stockholders) and its essential responsibilities include the duty to: Read more
