Innovation – Seek forgiveness and not permission
If you asked the CEO circa 20 years ago whether we should build a website. The answer would most likely have been no. In more recent times the same would be true for a mobile app. Of course today everyone has a website and a mobile app but only because of the very few who took action when such a move was considered an innovation.
Regardless of whether you have an innovation budget or not allocate funds towards innovation and produce something that might possibly disrupt your market.
Your ‘(mental) bandwidth challenged’ CEO will find it easier to evaluate your innovative idea if they can see it and play with it. The worst thing they can do is accuse you of using your initiative. The more likely outcome (particularly after several attempts) is that you will give your organisation a jump start on the market and give your strategic relevance a boost in the process.