Much too often CEOs just - metaphorically speaking - walk into the room and request innovation (or more of it). In a board meeting, a lunch break, while travelling abroad, within their yearly, rolling strategy sessions.
For a decade (and counting) we know that will not work any longer. Doesn't matter how hard you try.
Even an innovation process (which for me is contradictory in terms) or innovation strategy will not deliver properly.
Innovation must become incorporated into the culture - or DNA - of every corporation. Innovation and change. Both must become integrated that seamlessly that they become intuitive. That intuitive that middle managers do not "spent years developing robust processes to achieve short term financial success", but free their coworkers from those processes and grant time and space and inspiration.
The culture must be de/constructed to grow an intuition/ company towards the future, the consumer, and strategy. Culture must become the cradle for innovation and strategy. An innovative, consumer- and strategy-oriented culture - not just an, more or less accidental request now and then.