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Making Innovation Matter
Bloomberg BusinessWeek
The magic lies in how it's managed, and that must come from the very top of the company
By Mark W. Johnson
In a recent series of TV ads, Post Cereals declares that it put the "no" in "innovation" by refusing to alter the 118-year-old recipe for its Shredded Wheat cereal. "We're doing the right thing—nothing," proclaims one of the ads. In another ad, Frank Druffel, the fictional CEO, enthusiastically hires a job candidate to lead product development because the candidate has no skills or experience and can therefore be trusted not to change a thing. It's funny stuff, and probably the right move for a basic food product.
Whether intentionally or not, the ad taps an undercurrent of skepticism that I hear from time to time about whether innovation might just be overrated. The question, however, is not whether innovation matters, but how to make it matter more.
Connect with Seizing the White Space: Business Model Innovation for Growth and Renewal
—J.W. Marriott, Jr., Chairman and CEO, Marriott International
