Consider how your innovation practices are governed

The governance system in your organisation helps projects into the portfolio. It also establishes the scope of innovations and defines what is in the scope. Ideally, it is the growth board that sets up metrics for what opportunities deserves further development.

• A good practice is for the funds the growth board manages to be separate from the funds that support the base business.
• This fund should bear any losses incurred by a new business.
• The leader may get all the benefits of any upsides and isn't penalised for any downsides.