More than one old power organization has found itself with a “chief innovation officer” or “director of strategic initiatives” parachuted in by a CEO desperate to uncover some magical revenue line, or to serve as public evidence that her leadership really is engaging with the new world. But despite good intentions, these people often end up as “digital beards,” providing cover for a risk-averse leader and an unchanging strategy, and relegated to the margins of power and influence within the organization. They are often a small department paid to think about the future, resented by the rest of
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