Ending Soon! Save 33% on All Access

Why Companies Need Innovation Officers? "Communication is Innovation because without good communication it's just a bunch of ideas."

By Agamoni Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Entrepreneur India

Innovation officers are the latest breed of specialized recruits seen as nurturing a culture of ideation and creation within a company's corporate set up. But what is the role of these officers and how much do they contribute to shaping a strong culture of innovation in workplaces.

Farid Talhame, Chief Innovation Culture Officer for Godrej & Boyce, in an interview to the Entrepreneur India on the sidelines of its 7th Annual Convention, said as we move from economies of scale to economies of choice we need to be more customer centric and focus on users needs.

According to him, companies benefit from having innovation officers for the following reasons:

Communication

"Communication is Innovation because without good communication it's just a bunch of ideas. Sometimes, a good innovation gets missed due to poor communication and sometimes terrible products are brought to market based on great communication," said Talhame.

He harps on the need for these officers to strive to imbibe a culture of innovation in all stages, right from the newest trainees to the senior management, so that great ideas get communicated.

Strategy Building and Focus

As manufacturing techniques improve and become more accessible, companies now have the ability to make just about anything but often struggle to know what to make.

"The innovation strategy of a company depends on the organizations overall strategy, and innovation officers help align the two. The more businesses within an organization, the more strategies are at play. It's important to assess where their core competencies lie and determine what level of innovation is required," added Talhame.

Detecting the Need of the Market

"Due to globalization and increased connectivity, customers have a stronger voice than ever before," said Talhame.

According to him customers want exactly what they want at precisely the moment they want it and are no longer satisfied with democratized mass marketed products that are pushed upon them. This sometimes poses a problem for large consumer focused companies that are only comfortable operating at scale, and that is the root of the shift towards choice.

"There is no use of an innovation if it doesn't serve the needs of the user and innovation officers can help guide companies towards understanding what these future user needs and aspirations are" he added.

Balance

While innovation is important, there is also a need to be practical. You never want to get complacent but Innovation Officers should establish a balance between radical ideas and the feasibility of implementing them.

Talhame stresses on this need for balance and says, "Every organization needs its dreamers, realists, and critics. Without these, the company may lean to far in one direction and Innovation Officers help maintain that balance."

Agamoni Ghosh

Former Staff, Entrepreneur India

She was generating stories out of Bengaluru for Entrepreneur India. She has worked with leading national and international business publications, including Newsweek, Business Standard, and CNBC in the past. 

Leadership

How to Break Free From the Cycle of Overthinking and Master Your Mind

Discover the true cost of negative thought loops — and practical strategies for nipping rumination in the bud.

Science & Technology

3 Major Mistakes Companies Are Making With AI That Is Limiting Their ROI

With so many competing narratives around the future of AI, it's no wonder companies are misaligned on the best approach for integrating it into their organizations.

Side Hustle

These Brothers Had 'No Income' When They Started a 'Low-Risk, High-Reward' Side Hustle to Chase a Big Dream — Now They've Surpassed $50 Million in Revenue

Sam Lewkowict, co-founder and CEO of men's grooming brand Black Wolf Nation, knows what it takes to harness the power of side gig for success.

Business News

A University Awarded a Student $10,000 for His AI Tool — Then Suspended Him for Using It, According to a New Lawsuit

Emory University awarded the AI study aid the $10,000 grand prize in an entrepreneurial pitch competition last year.

Business News

He Picked Up a Lucky Penny In a Parking Lot. Moments Later, He Won $1 Million in the Lottery.

Tim Clougherty was in for a surprise when he scratched off his $10,000-a-month winning lottery ticket.

Leadership

How a $10,000 Investment in AI Transformed My Career and Business Strategy

A bold $10,000 investment in AI and machine learning education fundamentally transformed my career and business strategy. Here's how adaption in the ever-evolving realm of AI — with the right investment in education, personal growth and business innovation — can transform your business.