Innovation work has a front end and a back end - the front end is the generation and formulation of ideas; the back end is converting the best ideas into innovations. The back end is usually the easy part for organizations since they understand and are geared up for development and implementation of processes or products and services.

Welcome to the zombieconomy — where things happen backwards. Case in point: today's best example of how not to manage innovation comes from those who should be masters of radical innovation: venture investors.

Businesses are facing serious management challenges during the current global economic downturn and market turbulence: Every sector of the economy is being disrupted. Fortunately, however, and at the same time, profound opportunities are being created.

How can we ensure a winning business strategy when the stakes are so high?