Innovate or die, say CEOs

Without innovation, companies will likely become obsolete. That was the message Thursday when Richard Fain, chairman and CEO of Royal Caribbean Ltd., center, and Stuart Miller, CEO of homebuider Lennar Corp., right, addressed a group of about 100 local CEOs.

The event, created by the Miami Herald Media Company and hosted at Royal Caribbean’s PortMiami innovation lab, was sponsored by WheelsUp, a private aviation membership company. The event was moderated by Miami Herald Business Editor Jane Wooldridge, left.

Other nuggets from the event:

  • For public companies such as these, innovation has to take place “off track” while the company continues to meet its quarterly goals.
  • Innovation in back-in processes can be as crucial as what the customer sees.
  • Buy-in from senior management is essential to creating an innovative mindset and implementing strategies.
  • Collaborative workspaces are part of the formula for success.

Miami Herald staff