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Creating the Right Environment for Innovation

From the IT Executive Symposium at Cisco Live 2012

When you strip away all the hype and emotion around the word “innovation,” you end up with a simple but powerful concept: Innovation is about doing something new that creates value. Innovation isn’t just important—it’s critical to a company’s growth and success.

In his keynote at Cisco Live 2012, Cisco Chairman and CEO John Chambers discussed the importance of being able to capitalize upon market transitions. This requires both innovation (the ability to adapt) and agility (the ability to change quickly, to be flexible). One of the most interesting comments I heard was in the IT Executive Symposium, where several discussions focused on dealing with today’s economic uncertainties. The point was made that innovation most often occurs when we find ourselves deeply challenged. As Jeff DeGraff, professor of business management at the University of Michigan stated, “That is when the risk-reward model is inverted.” Read More »

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