This sounds familiar

I once worked for a company that perceived itself itself as not being particularly innovative.

(True, in fact)

Something need to be done.

I read the minutes of an Executive Board minute in which the following (in German) was documented:

"Herr A***en (CEO) stated that the company needs to be more innovative. An Innovation Committee is to be established"

A bit like Quality Management.

Got a quality issue?

Appoint a Quality Manager