The 2014 Innovation Challenge

While awareness about innovation has spread, many organizations have not yet taken action. The importance of innovation is widely acknowledged, but a large percentage of companies do not have innovation strategies. Innovation is not just about new products or gimmicks; it involves changing an organization's culture, transforming working practices, and providing exceptional customer service. In 2014, leaders and CEOs should step up to the innovation challenge and make innovation a core value. The rewards of innovation are significant, but it requires time to develop an innovation strategy and capability. The only alternatives are to innovate or risk being swallowed up by competitors.