Unlearning to Innovate: What Makes Innovation So Hard, and What to Do About It
Most organizations over-emphasize protecting innovation as a source of competitive differentiation when instead they should seek to maximize revenue returns on their innovation investments. Many companies also put too much focus on new technology to drive innovation, without sufficient focus on the importance of human ingenuity coupled with technology. By reframing a false dichotomy between open and proprietary innovation, and rebalancing their focus on organizational culture and people, companies not only increase innovation, but more importantly, increase competitive advantage and commercial benefit derived from innovation.
Read the full article to learn about the following nine strategies that can help maximize innovation ROI:
- Embrace “Smart” Failures
- Rethink “Success”
- Pay Attention to People
- Source Ideas, Not Just “Stuff”
- Share, Don’t Hoard
- Collaborate with Competitors
- Look Outside Your Company and Your Industry
- Go Beyond the Tangible
- Emphasize External Sources of Innovation
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