The competitive landscape is intensifying across industries, but perhaps none more visibly so than in consumer products, where firms must fight to maintain relevance with increasingly complex customer segments, update operations and production lines to match rapidly changing preferences, achieve differentiation in markets with blurring boundaries, and anticipate the social issues that will resonate with consumers and employees alike. In today’s fast-paced environment, standing still or waiting to see how things will turn out is no longer an option.
To meet these new challenges, management is under great pressure to ensure the company can both identify, as well as successfully execute on, creative and innovative ideas. Corporate directors are in a unique position to provide insight to executives on future disruptions, existential threats, emerging technologies, and other considerations that impact a company’s strategy, but the manner in which a board provides effective governance over innovation activities often varies widely.
An exclusive roundtable dinner co-hosted by the Financial Times and AlixPartners will convene corporate board members from the largest public companies in the US to discuss various approaches to stewarding innovation.