According to recent research, 40 percent of CMOs do not feel prepared to meet their marketing objectives, and 70 percent believe they have only five years to fundamentally overhaul their company's corporate marketing model in order to achieve competitive success.

CMOs report that inefficient business practices and the lack of funding and resources are among the barriers they face that ultimately hinder them from improving their performance and meeting their business goals. The five major marketing capability areas that are impacted by these hindrances are digital orientation, customer analytics, offering innovation, customer engagement and marketing operations.

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In fact, most people confuse the terms, and therefore the concepts; many companies have metrics systems that confuse creativity (e.g., number of patents) with innovation (e.g., percent of sales from new products). People regularly use these dichotomous terms as if they were synonyms:

• Creativity & Innovation

• Research & Development

• Science & Technology

• Art & Design

• Pure & Applied: [fill in the blank]

The creativity terms on the left side are the chaotic, messy, unpredictable serendipitous precursors. The innovation terms on the right are the business goals. Like love & marriage, or horse & carriage, you can’t have one without the other.