The culture of Innovation is set by the CEO. Innovation is a new idea or way to do things.Very critical as it can be what makes your company or product different from your competitors. And in this very competitive world, if you don't have a point of difference, you better have a low price.

Innovation is critical for Gillette as they continue to come up with better ways to shave. (Track II, Sensor, Mach Three, etc.) 3M has used innovation in adhesives to build new businesses. (The Post-it note.)GM has failed to innovate and they now need low prices to sell their cars.

Small companies use innovation to compete with big companies that tend not to innovate well. (A small company called SonoSite has become the world leader in hand-held ultrasound devices. GE, Siemens and Phillips are big in large ultrasound machines.) Many innovations can be called creative solutions to problems or improvements. (Procter and Gamble's Swifter is a creative solution to dusting in difficult places.) .Gillette is a giant in innovating with their new generations of razor blades. BMW is the best innovator in automobiles. Dell in computers (Going direct was a big innovation.) .The culture for innovation is set by the CEO. He encourages it but also guards against what could be called tinkering with a brand. Some people think line extensions are innovations. All they do is confuse things.

culture of Innovation, CEO. Innovation,new idea.Very critical, company or product, competitors, And in this very competitive world, critical for Gillette,Track II, Sensor, new businesses,ultrasound devices, GE, Siemens and Phillips .