You will not innovate unless you excel in Idea Management.
Innovation is an important part of your strategy. A key enabler of Innovation is Knowledge Management (knowledge about your customers, about the environnement, about your own products). To succeed, your organisation must become a Learning Organisation. Enable team cross-pollination and communities of practice is an important part of Innovation. This People-to-People knowledge transfer (focusing on tacit knowledge) has a much important part in Innovation than People-to-Document (which focus on explicit knowledge).