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After reading this chapter, do you see the value and synergy in having “governance” with “innovation”? When innovating in your organization, it is not sustainable, repeatable, and holistic to simply have some creativity and ideation with a few individuals. You need that execution and discipline via governance to establish some boundaries, give some guidance, and effect larger scale innovation for many people to be involved and to drive the most value. Find the right balance in your business and for your culture, but ensure you have both components of this equation to drive innovation value.

With innovation governance as the base, it’s time to identify “important innovation.” This isn’t just about how you should evaluate innovation value in your organization—it is also for defining important innovation for your employees and other stakeholders. Knowing and understanding what is deemed important allows them to focus on innovating rather than trying to guess what leadership may or may not want.