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Innovation Management: Realizing The Value Of Innovation
In a world of constantly evolving customer expectations, heightened and disruptive competition, more restrictive regulatory requirements, and Wall Street’s unrelenting demand for earnings growth, organizations of all types have acknowledged the importance of innovation to their success. Realizing the benefits of innovation, however, requires not only “talking” but “walking the talk.” The “walk” is a systematic approach to the continuous development and implementation of value-adding ideas to increase competitive advantage. This systematic approach, or “Innovation Management,” involves the establishment of a cross-enterprise model, championed by senior executive leadership. To help jumpstart the design of your institution’s unique Innovation Management approach, this article provides a high-level view of the “what, how, and who” of creating shareholder value consistently.

About the Author
Courtney Wood Courtney Wood is a Director in TCS’ North American Banking & Financial Services Consulting Practice, leading the Business Transformation and Innovation Management solutions groups. Courtney has spent the bulk of her 25-year career in tier one consulting firms providing business transformation, process improvement, innovation, and new venture development services. Prior to consulting, Courtney earned an M.B.A. from the Columbia Business School and a B.A. in Economics from DePauw University; as well as worked in the areas of commercial lending and investment banking.

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Table of Contents
1. What is Innovation Management? 2. How is Innovation Managed? 3. Who Contributes to and Manages Innovation? 4. Conclusion 4 4 9 12

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What is Innovation Management?
These days, given the increasing velocity of change and the expanding number of change drivers (e.g., customer expectations, technology, regulation, emerging market growth, political instability, natural resource availability, and