Rethinking and remaking the corporation means that some measure of innovation – in product, process, technology, distribution or whatever it is that drives the business – is imperative. You don’t have to be innovative in all things (though you should be competitive in most), but you must look to lead in what is fundamental to your business’ success.

Fast Company’s March issue features its own list of The World’s 50 Most Innovative Companies. These companies span a range of industries, geographies and drivers. They include known quantities like the ubiquitous Google (which sits comfortably atop the pile) and a small quantity of others soon certain to appear in fine portfolios everywhere.

The magazine makes no claim that this list is definitive. But the things that motivate innovation and that ultimately make the innovations successful for their respective companies are clearly defining. Put another way, what is different about these companies is, ironically, what binds them – and other innovators – together.

It begins with recognizing the need for innovation. From there, creating an organization where innovation is a primary focus and second nature is somewhat akin to planting and nurturing a garden.

The Innovator’s Garden

It doesn’t really matter whether the seeds for new ideas come from within an organization or are made available to it from outside sources (via partnering, JVs or independents). What matters is that these seeds are properly germinated, watered, and then provided copious amounts of sunlight (visibility) and TLC by their constant gardeners.

It goes without saying that the architect of the innovation landscape is, in all cases, the CEO. There is no question that an organization-at-large takes its cues from its leader. He or she sets the tone and the ground rules. Critical funding, i.e., fertilizing, comes from senior management budget approvals. Without proper funding - ‘proper’ referring both to the extent and continuity of funding - there will just not be enough topsoil to enable the crop of new ideas and technologies to take root.

You will also need patience to ensure that these ideas and technologies become established. Too often, companies set unreasonably short payback horizons (as little as two years) and excessively high return-on-investment goals (30-40%). Projects and programs that don’t pass through these target filters never see the light of day or are turfed before given a reasonable chance to succeed.

Senior management support notwithstanding, it is the day-to-day tending of the garden, from the tilling of soil to the propagation of new species, that ensures success. You have to invest in the right people and give them the right tools to do their jobs. And then let them go at it.

Hopefully I haven’t overworked the analogy. At least I didn’t try to transform the Nitrogen Cycle into an Innovation Cycle. But, to rework an old and unfortunately anonymous reminder, you can’t plant toads and expect to raise toadstools. You’ve got to understand how your company interfaces with its competitive environment and then…well…work the soil. This is the only way to keep the business growing.