Every company is looking for the magic formula that will produce breakthrough products & services. Followings are the blocks/inhibitions against innovation:
Our focus on short term results drives out ideas that take longer to mature. Fear of cannibalizing current business prevents investment in new areas.
Most of our resources are devoted to day to day business so that few remain for innovation.
Innovation is some one else’s job and not part of every one’s responsibilities. Our efficiency focus eliminates free time for fresh thinking.
We do not have the standard process to nurture the development of new ideas.
Incentives are geared towards maximizing to day’s business and reducing risk. Managers are not trained to be innovation leaders.
Managers immediately look for flaws in new ideas rather than find out their potential.
We look at opportunities through internal lenses rather than starting with customer’s needs and problems. All of us have the capabilities, sometimes we have to get out of our own way.
Disclaimer: This is a personal blog, narrating my personal entrepreneurial journey. While on this long journey, I have come across different people, companies and unexpected quarters; each of whom have helped shaped my life. My writing is an attempt to reflect and capture some of the moods and emotions that have occurred over the last two decades.
Kindly excuse any grammatical errors, typos or mistakes of any kind. This blog is written from the heart and is purely an expression of my experiences.
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