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by Carole France, Christina Mott and David Wagner in Oliver Wyman Journal on August 01, 2007

In this article Carole France, Christina Mott and David Wagner talk about turning a company into an innovation engine.  The three main areas executives should consider when implementing a new innovation strategy include leadership, values and culture, and organizational structures.  Innovation must be spread throughout the company with everybody taking part and collaborating.  In order to succeed the leaders need to champion and create an environment where people are rewarded for innovation efforts.  As companies begin to establish a company wide innovation strategy that includes company values and culture along with organizational structure innovation is not longer just a strategy, but becomes part of everyone’s job established in their day to day work.