Most organizations, after putting efforts in cost cutting, right sizing, downsizing and quality improvement efforts, have discovered that these efforts alone are not enough to ensure their long term survival.

In today’s ever-changing economic landscape, innovation has become a key factor influencing businesses. Leading companies continuously seek out and institutionalize the insights and tools they will need if they are to stay at the leading edge and be top-rated stars in their sector.

According to recent studies, 75% of CEOs of the fastest growing companies claim their strongest competitive advantage is unique products and services and the distinct business processes that power them to market innovation by another name. Innovation is now responsible for up to one half of the growth of the global economy. Because of factors such as globalization, increasing competition, the growing impact of information and communications technology, and the high pace of scientific and technological change, firms must innovate more rapidly than ever before.

Innovation has become strategic issues as organizations strive to remain competitive. Within the organizational context, innovation perhaps linked to performance and growth through improvements in efficiency, productivity, quality, competitive positioning, market share, etc. While innovation typically adds value, innovation may also have a negative or destructive effect as new developments clear away or change old organizational forms and practices. Organizations that do not innovate effectively may be destroyed by those that do. Business leaders are asking the question: "How can we teach our people to be creative and innovative?"