The best CEOs are excellent at growing and running a company within a known business model. What they don’t do well enough is reinvent and innovate. It’s not because they’re incompetent, they just fall short at the task. Sure, there are exceptions who are both visionary CEOs and innovators — Steve Jobs and Jeff Bezos, for example — but there are very few companies that can stomach that sort of leadership. So if the CEO isn’t someone who can innovate, then who should? It’s a question that I’ve discussed with Lean Startup founder Steve Blank and business thinkers such as Yves Pigneur, Henry Chesbrough, and Rita McGrath. We believe that CEOs need a partner for innovation inside their companies, someone who will create and defend processes, incentives, and metrics that encourage radical ideas and find new areas for growth. It’s an executive who can help large companies reinvent themselves while they’re still successful. And this new role needs to sit in the C-suite.
Read More: The C-Suite Needs a Chief Entrepreneur – HBR