Innovation Governance provides the leadership and scrutiny instruments that encourage the right behaviours, structures and processes to become embedded across an organisation. It is not directly about how innovation is managed by practitioners (which is domain-specific and already supported by a sizable amount of literature in innovation management), but about how a Board of Directors, CEOs, and senior leaders promote and review innovation practice on behalf of their stakeholders.
Innovation is important:
- It is the foundation of growth and competitive advantage, creating and appropriating value in the private sector;
- It is the only way to make significant advances to 'deliver better for less' in the public sector.
It is therefore surprising that few organisations treat the scrutiny of their innovation practices as an explicit part of their corporate governance regime.