The Academy also asked me to contribute an article to their magazine Board View. The piece is below, providing a high-level view on the role of company directors in driving innovation.
I find it interesting how little attention seems to be paid explicitly to the role of directors in innovation. Many aspects of driving successful innovation are operational, so within the purview of management. However there are critically important roles for boards of directors to play in innovation, and innovation must be squarely on directors’ agenda.
How Directors Can Drive Innovative Organisations
As the pace of change in the business environment increases, driven by technological and social shifts, innovation is moving to the centre of value creation in organisations. Efficiency and effectiveness in well-established business processes and business models are of no value if those models are being destroyed by new products or new classes of competitors.