Davila et al in their book ‘Making innovation work’, argue that the essential prerequisites to creativity, change, and innovation include the ability to exert strong leadership with regards to innovation strategy and portfolio decisions.
The ability to integrate innovation into the company’s basic business mentality; align innovation with company strategy; manage the natural tension between creativity and value capture; neutralize organizational antibodies.
We must also be able to recognize that the fundamental building blocks of innovation are networks that include people and knowledge both inside and outside the organization; and, create the right metrics and rewards for innovation.
They also argue that strong leadership is essential to achieving innovation success. An important aspect of this kind of day-to-day leadership, which happens through commitment, example, and solid decisions, is the creation of a portfolio of technology and business model innovation. The importance of leadership in the innovation process within an organization is also emphasized.
Business model innovation is just as important, and just as powerful, in driving 
business success and revolutionizing industries as technological innovation.
The importance of the business model innovation in improving corporate performance is crucial to organizational success. Indeed, innovation is the process of creating new ideas and turning them into new business value.
Finally, the elements of innovation, namely, leadership, strategy, processes, resources, performance metrics, measurement, and incentive rewards, have a huge effect on the quality and quantity of innovation that an organization achieves.
