Innovation is the cornerstone of a successful business, so why is it so elusive to many companies? To determine the biggest roadblocks, consulting firm Imaginatik conducted a study of 200 professionals in its “State of Global Innovation” report. 35 percent of those surveyed were senior management, board members or C-Suite executives, and 76 percent of respondent’s organizations had 1,000 employees or more. The results offer insight into what makes innovation stall at large companies…
…”Many companies use proximate indicators of innovation success, derived from their existing business and management systems. Unfortunately, these measures only work well when applied to mature steady-state markets, rather than innovation and what’s next,” says Chris Townsend, CMO of Imaginatik. According to Townsend, companies tend to view innovation as something they can “fix,” when, in reality, innovation is about overcoming obstacles and reimagining processes — and sometimes the entire organization — from the ground up, while incorporating assets the business already has…
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