1. Innovation Governance Council
Governance and Resource Allocation
Purpose of Governance Council
Define the Strategic Intent for Innovation
Innovation Ventures Portfolio Shaping
Allocate Extraordinary Resource
Guidance to the teams
Membership
Highest Levels of Executive Management
Should not delegate
Frequency
Quarterly
Active & Engaged Sponsorship
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2. Culture For Innovation - Traits
Three Corporate Traits….. For Success
Willing to cannibalize successful products
Corporations nurture and sustain their most successful products
Innovations are either
Threat to current success
Costly, distant in payoff, highly uncertain
Focus on future
Firms focus on current mass markets
Todays mass markets will be gone tomorrow
Must focus on future mass markets
(Example who introduced camera & film but had most digital patents)
Embracing risk
Innovations have a high failure rate
Success requires embracing the failure
Incumbents tend to be risk averse, unaccepting of failure
Willing to cannibalize, future focus, Embrace risk.

3. Culture For Innovation - Practices
Three Corporate Practices….. For Success
Incentives for enterprise
Incentives for seniority, age, retirement stimulate loyalty but kill innovation
In many firms failure is seen as shameful
Incentives for innovation must be asymmetric
Strong rewards for success
Weak penalties for failure
Internal competition
Employees love job security
Innovators love adventure
Bring the market within : Competition in
Idea fairs, funding contests, prototype races, competing divisions
Employees generate, peers judges, managers facilitate
Crowdsourcing targeted ideation and prioritization
Empowering Innovation Champions
Every employee can be an innovator
Innovations often emerge deep in large organizations
Top innovators seek new adventures / challenges
Empowering champions, Incentives for enterprise, Internal markets.