Innovation to Create and Sustain Profitable Growth: The Board's Role
NACDNTX Dallas Luncheon - Innovation to Create and Sustain Profitable Growth: The Board’s Role
In this age of exponential change, companies are required to innovate (do new things) in response to technology disruption, fast-changing customer expectations and evolving ecosystems that challenge longstanding industry and market boundaries. “In transformational game-changing times as these, the key rule is: If it can be done, it will be done…and if you don’t do it, someone else will.”
Corporate innovation focused on customer benefits can include new products, new and emerging technologies, customer experiences, lines of business, business models or platforms, and operating processes. Boards are increasingly entering into proactive discussions with management on their strategy for driving innovation and addressing related risks.
Key Issues to address include:
- When should boards let innovations bubble up from within the company (emergent process); or drive innovation from the top (deliberate process); or manage a mix of processes?
- How can boards evaluate management’s ability to drive sustaining innovation to create new competitive advantages and disruptive innovation to create new business models or platforms?
- How should the board frame its conversations with management about new markets and business models, new and emerging technology and other disruptors to the current model?
- How can the board partner with/support management in promoting a culture that facilitates and rewards innovation?
- What should the board consider regarding its composition and governance capabilities to competently and creatively engage management in discussions around innovation opportunities and actions?
Professor of Innovation, Entrepreneurship/Intrapreneurship at UT Dallas; Director, Tangoe; previous public company CEO, Partner, Sevin Rosen Funds and Director, ProNet, MetroCall, and Wayport
Kelly Sepcic Pfeil
President and Founder of Arrow Innovations providing product design and innovation. An inventor on multiple international and U.S. patent applications in the area of flavor and sweetener technology. Twenty five years of experience in R&D and innovation of consumer packaged goods.
KPMG LLP National Partner-in-Charge – eAudit, Global Delivery Center and Audit Data & Analytics
Location and Time
Hotel Crescent Court
400 Crescent Court
Dallas, TX 75201