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A Fractional Strategy: Chief Innovation Officer (CINO)

By The San Diego Consulting Group

Nearly everyone agrees on the importance of innovation to the long-term success of a business but, in reality, how many companies have a defined approach to innovation?

Instead, to rephrase the famous Nike tagline, how many companies “Just Wing It”?

It is certainly easy to do since the rewards of innovation are realized in the future whereas the vast majority of businesses are heavily focused on the present – production, sales, delivery, support and billing. And, quite frankly, who has time to think about “the future” when your business is “up to its corporate eyeballs” with production delays, quality issues and slow paying customers?

The problem is, a “kick-the-can-down-the-road” approach to innovation is not a recipe for success given our current, hyper-competitive, dynamic, global market including finicky customers who are constantly seeking new disruptive solutions and greater value. A kick the can strategy turns today's cutting-edge darling into tomorrow's has-been.

“Change is the only constant in life” – Heraclitus (535 BC – 475 BC)

If you are going to remain at the forefront, innovation needs to be part of your company’s strategic toolkit for targeting “new areas of growth” in the form of new products, new services, new markets, and new business models.

So how does a company solve this problem?

A dedicated Chief Innovation Officer (CINO) or equivalent full-time role is often the best approach for many companies, as it provides maximum focus and coverage to an ever-evolving and complex challenge.

Alternatively, a Fractional Chief Innovation Officer operating on a part-time basis one or two days per week provides a more budget-friendly option with the same impact. A fractional CINO will establish and provide structure around the company’s innovation function and advance the correct innovation agenda.

At the San Diego Consulting Group, we provide fractional solutions to your problems to exceed your goals. Our expertise in innovation, strategy and management combined with our deep technical and IoT background empowers our clients to unlock growth opportunities and create real market impact they would normally not realize.

If you are interested in exploring fractional solutions to your growth problems contact the San Diego Consulting Group at:

Your future begins today!

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