How to do innovation right

A bank whose e-statements don't reach who they should. An app that works only on specific phone models. Here are some thoughts on how companies can set up more effective innovation structures.

The most often-used words in the business lexicon of any present-day chief executive officer are catchwords such as innovation, digital strategy, data analytics, machine learning and artificial intelligence (AI).

The CEO is, in most circumstances, under pressure from the board - and rightly so - to have an "innovation agenda", responding to investor expectations, as markets are inclined to reward enterprises which have one and penalise those without.

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A version of this article appeared in the print edition of The Straits Times on March 20, 2019, with the headline 'How to do innovation right'. Print Edition | Subscribe