Best Practice Report

IT Can Help Accelerate Business Innovation

Making Product, Business Model, And Process Change Sustainable

February 21st, 2008
Bobby Cameron, Vice President, Principal Analyst
Bobby Cameron Vice President, Principal Analyst
With contributors:
Laurie Orlov , Alex Cullen , Tim DeGennaro

Summary

Innovation has reached the level of near-meaningless cliché, with execs wishing they were engaged in more of it — even though these execs are unclear about what they want. For their part, CIOs want to create a greater role for IT in business innovation, but it's no longer appropriate for IT to have a separate IT-enabled definition. Why? Innovation is a company challenge, given that technology is increasingly embedded in every aspect of an enterprise. Instead, CIOs should work with their peers to adopt a five-step innovation pipeline process to accelerate the pace of innovation, including: invention and discovery; validation of viability; incubation and investment; implementation and commercialization; and monitoring, measurement, and reward.

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