What is Innovation Governance?
When business leaders hear the word “governance,” they may naturally think of corporate governance, “the system by which companies are directed and controlled.”1 “It involves regulatory and market mechanisms, and the roles and relationships between a company's management, its board, its shareholders and other stakeholders, and the goals for which the corporation is governed.”2
But what does the concept of innovation governance conjure up? Does it belong to the broader governance mission of the board of directors? Is innovation a sufficiently important challenge to be “governed,” i.e. directed and controlled at a high level? In many companies immersed in today's global product and service competition, ...