To be competitive in the global marketplace, organizations need to innovate products and services rapidly and do it in a cost-effective way. Even during the recession, CEOs were already focused on growth, and they expected technology to be the main enabler of innovation. While technology is a critical enabler, though, you also need a vision of where your company is going. A clear business strategy and goals will help define and set the context for the role innovation will play in enabling profitable growth. As one of the few executives involved in all aspects of the business, CIOs are uniquely positioned to not only develop the right strategy, processes, and organization to enable innovation, but also to drive innovation by leveraging emerging technologies such as social networks, mobile computing, analytics, and cloud computing.