Why this program is needed
Traditional strategies for increasing profits and share value—perpetual cost cutting, megamergers, spinoffs, share buybacks, de-mergers, outsourcing, and other financial tools—occasionally provide value for shareholders, but fail to create new industries, markets, and wealth. It is not financial engineering, but rather smart innovation that acts as the wellspring of competitive differentiation, industry leadership, and positioning for long-term success in an increasingly competitive global marketplace. Incremental advances are no longer enough, and only brilliant innovation can propel a company to the forefront of an industry.
CTOs are tasked with spearheading strategies and employing tactics to foster a culture of innovation. And yet, many CTOs confide that innovation appears to have hit a barrier. Fewer than 10 percent of the companies in the Fortune 500 are generating double-digit growth. Many of the largest technology companies have seen revenues and profits drop. Even Silicon Valley's engine of innovation, which is fueled by venture capital, seems to be stalling, and the typical venture fund barely beats the rate of return of the money markets.
What is preventing profitable, long-term growth, and what can be done about it? These questions are critical for CTOs, who are first in line to experience the consequences of under-investment in R&D, increasing emphasis of the short-term over the long-term, and the difficulties of helping business leaders withstand the tremendous pressures for quarterly results.
This executive education program serves a vital need by bringing together CTOs from many organizations, industries, and countries to share experiences and learn new ideas and frameworks for navigating an increasingly complex business environment.