Managing Innovation: Harnessing the power of finance

Managing Innovation: Harnessing the power of finance

Innovation is the key to sustainable business success in today’s fast-paced, volatile and uncertain world.

Companies that can nurture the creativity necessary for innovation, and then finance and implement their ideas efficiently are more likely to succeed in the long-term.

But achieving a balance between promoting innovation and managing risk is not easy.

To explore this area we have initiated a programme of research into risk and innovation. We invited senior executives to share their experiences at events in Asia, Europe and the Americas. Some of their insights, along with our own research, are captured in this report.

It showcases how management accountants, who sometimes have a reputation as regulators of risk rather than as instruments of innovation, can help promote a culture of creativity and renewal. The report identifies five areas where finance leaders can have a critical impact on the way companies commercialise innovative ideas. From helping to support and foster an innovative mindset within the business, to implementing new ideas effectively and managing risk across a portfolio of projects, there are numerous ways in which finance professionals can support the innovation process.