What’s the secret behind innovation within a company? According to Linda Hill, professor at the Harvard Business School and co-author of “Collective Genius”, it is “unleashing the power of the many”.
"The role of a CIO is mainly to go off the beaten paths, looking at problems through multiple lenses, thinking differently, exploring new collaborations and identifying disruptive technologies or processes."
Beyond being an issue of social justice, inclusion and diversity in companies have a direct effect on their growth, innovation and performance. These were the findings published in McKinsey’s latest study, “Delivering through diversity”, which reaffirms the link between a greater proportion of women and a more mixed ethnic and cultural composition in leadership roles, and company financial performance.
Companies that capitalise on the four elements of digital innovation, including big data analytics, fast adoption of new technologies, mobile products and capabilities and digital design, out-innovate competitors and grow faster, according to an annual report from the Boston Consulting Group (BCG).
The Chief Innovation Officer is more important than ever for the success of companies, with demand expected to rise further in the coming years. We look at the definition of the CIO, and why they are the key player in business innovation management today.