Do companies need a Chief Innovation Officer?

The role of a Chief Innovation Officer (CINO) is to create a movement for change – to drive a shift towards a culture that fosters change. Considering this definition, it's not the case that every company needs a CINO. While we tend to look at businesses that are being disrupted by new technologies, there companies out there that, simply, might not need to change. For instance, if you're a company that has been making wonderful lager, in Copenhagen for the last 500 years, the reality is that you might not need a CINO because your world is not significantly different; you might not need to invest in D2C or change your business model or drive a digital transformation strategy. Hence, the first important question is, does your company actually need to change? And then the second one is how deep this change needs to be?
For example, if you're a department store, your entire business model may be already totally disrupted and hence you need to go through a process of very deep existential thought about what the future of your industry is; you need to be open in making incredibly significant changes [ … ]