Managing Innovation: Harnessing the Power of Finance
Striking a balance between promoting innovation and managing risk is not easy. To explore this area the AICPA and CIMA have initiated a program of research into risk and innovation. The report, “Managing innovation: Harnessing the power of finance,” 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 commercialize 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.
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