INNOVATION ENTERPRISE WIDE

A consistent theme to emerge from our interviews with transformation leaders and successful transformation case studies is the extent to which innovation is promoted throughout the organisation. Marc Speichert, a widely respected international marketer and currently Global CMO of L’oréal, attributes the success of L’oréal’s transformation to recognising that although the business prided itself on innovation it was almost exclusively ‘owned’ by product development within the business. Speichert created an innovation fund that was available to a wider range of functions in the business and created an environment where everyone saw they had a responsibility to innovate, to do things differently.