The late Steve Jobs once said:
“Innovation is what distinguishes between leaders and followers”.
The main role of the Board of Directors is to make sure the organization has a winning
future ahead, and this requires a solid innovation process.
It is a common misconception that “innovation” is synonym for “technology”. Not
necessarily. Innovation is making sure that the business will stay ahead of future changes
in its ecosystem, ideally drive these changes. Innovation can be applied to new customer
service process, cost reduction, new business model, new distribution channels to name a
few. Southwest Airlines, Domino Pizza and Uber are few examples of such innovations.