Innovation is about survival and widely recognised as an important driver of economic growth. But believing in innovation is not enough. Neither is using antiquated innovation techniques effective in today's world of rapid change, digital technologies and ever increasing variables.
Mantras and buzzwords are no substitute for solving real problems, and “ideas” fall short of what real innovation does, which is “solve problems'.
Barriers to innovation range from a lack of innovation capability to a lack of support by the C-suite to bring about the innovation that is required to bring about highly effective business transformation. Transformation that creates new value, competitive advantage, and possibly disrupts an industry.
- Innovation Barrier 1: New innovations require new strategies
- Innovation Barrier 2: Your network is embedded in an older model
- Innovation Barrier 3: The need to maintain margins