The Most Commonly Cited Barriers to Innovation in Large Companies? Internal Politics

  • 📰 HarvardBiz
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

A survey of 270 corporate leaders shows what stunts innovative initiatives.

It turns out that the word “innovation” is not a Harry Potter-esque magical incantation that, once spoken, renders companies more inventive, creative, and entrepreneurial. The word can be uttered by a CEO speaking to employees or Wall Street analysts. It can be emblazoned on the door to a new innovation center in Silicon Valley. It can be inserted into people’s job titles.

, from 270 corporate leaders in strategy, innovation, and research and development roles, were illuminating.We invited survey respondents to cite as many factors as they wanted from a list. The top five obstacles were each cited by at least one-third of respondents. They were:Some business units or functions believe they’re already doing innovation on their own, and that any sort of new initiative is edging into their terrain — and potentially competing for resources.

And big companies, like elephants, have long memories. Many long-timers can remember — and will happily detail in meetings — all of the “historical attempts [at innovation] that didn’t pan out – and it may just not have been the right time,” says Stacey Butler, director of innovation at NRG Energy. “With a budget of less than $1 million, it seems like the job is to build a case for innovation investment, versus [doing the work of] innovation itself,” says Rick Waldron, a former Nike executive who ran the apparel company’s innovation accelerator until last year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 310. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

getsummari summarize

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Company Providing Carbon Offsets Accidentally Sets Large Forest FireLand Life, a company that offers carbon offsets to polluting industries through planting trees, has accidentally started a massive forest fire in Spain. The one step forward two steps back reforestation system
Source: futurism - 🏆 85. / 68 Read more »