Wednesday, August 17, 2022

Innovation needs structure

Businesses that clutch on to arcane innovation practices are less likely to realize success than if they take an open, collaborative approach, according to senior IT industry analysts.

Research director for IT analyst firm Hydrasight, John Brand, believes fewer than 20 percent of organizations have formal innovation programs in place and so face more failures than successes.

Speaking at a CIO Executive Council forum in Sydney recently, Brand said innovation is difficult to manage without the right culture and “you have to foster that culture”, which is best done through enterprise governance.

“The very nature of innovation is changing,” he said. “It used to be isolated, but is now open as we have more complex business relationships.” The driver for innovation in the future will be more “open”, Brand said.

“Companies will look outside,” he said. “Do we have a structured mechanism to do that? We have to semi-structure innovation.”

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Related Tech News

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.