Chief innovation officer

A chief innovation officer or CINO is a person in a company who "originates new ideas but also recognizes innovative ideas generated by other people."^[1] The term chief innovation officer was first coined and described as a new executive position reporting to the CEO in the book, Fourth Generation R&D, published in 1998 ^[2] The CINO is responsible for managing the innovation process inside the organization that identifies strategies, business opportunities and new technologies and then develops new capabilities and architectures with partners, new business models and new industry structures to serve those opportunities. Organizations with a CINO are practicing part of the fourth generation of innovation theory and practice to emerge since 1900 ^[3] The CINO focuses on radical or breakthrough innovation. The coined term CINO is used to differentiate the position from the Chief Information Officer although CIO is more commonly used for both positions. Robb Hecht, chief innovations consultant for IMC Strategies Lab, a brand strategy consulting firm in New York City. has stated that "Marketing used to include one-way media," referring to TV, radio, billboards and the like. "The CIO arose when technology met marketing. A CIO [encourages] consumers to accept marketing messages and become part of the marketing process."^[4] The Knowledge Channel described in the book, Fourth Generation R&D, facilitates the bi-directional dialog with customers.

References

1. ^ Heidrick & Struggles (Time Inc. website) "What Makes a Successful Chief Innovation Officer?
2. ^ Miller, W. and Morris, L. Fourth Generation R&D - Managing Knowledge, Technology, and Innovation, Wiley, 1998.
3. ^ Miller, W. Chapter 21 "The Generations of R&D and Innovation Management", Encyclopedia of Technology & Innovation Management, edited by V.K. Narayanan & Gina Colarelli O'Connor, Wiley 2010
4. ^ April Y. Pennington, "The New CIO:Executives specializing in innovation." Entrepreneur, November 2006