While the term “innovation” has recently been lambasted for both its misuse and its overuse, there is no denying that a strong innovation program is an essential component of long-term organic growth. Despite their importance, innovation programs frequently become sinkholes for employee time and company money. Far too often, these programs become holding pens for pet projects from senior management or high-cost training programs that fail to produce meaningful output. By mining insights from our own capability-building projects and reviewing contemporary case studies from a wide range of industries, we have identified five of the most common mistakes companies make in launching new innovation programs.
New Markets Blog