The Chief Innovation Officer (CINO) position is intended as a way for a company to invest in and institutionalize innovation. But as it stands today, it’s also the best way for a good executive to get fired within 24 months. The truth is that the success or failure of the role is typically not based on the hire. It’s the structure and strategic intention that surrounds it. The CINO should develop a capability, not meet a wish-list for company growth. It’s time to rewrite the job description for the CINO. The Chief Innovation Officer, Redefined is the last of five pieces in our report, Big Entrepreneurship, and shows multinational businesses how they can keep up with the new global consumer.
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