Although disruptive innovation receives high-profile press and mindshare in business discussions, there is a much bigger and more common threat to realizing greater ROIs: an inability to address internal innovation failures that cut into growth and innovation (G&I) results.
G&I remains one of the most common and consistent strategic priorities amongst executives. Yet growth and innovation are tough by their very nature, as they entail risk, uncertainty and failure. Superior G&I results continue to be elusive as change comes at an accelerated pace from traditional and non-traditional competitors and sectors. However, our experience and recent research suggest that many of the most persistent causes and drivers of sub-optimized ROI come from within companies themselves.
By tackling their internal challenges and optimizing well-founded business strategies, organizations are capable of producing greater value, more competitive versatility and significant results.
Building on our experience leading clients through their own challenges, we researched the latest G&I challenges and resolution paths. We identified seven failure points—some acknowledged and well understood by growth and innovation leaders, others less obvious—that can be remedied through purposeful intervention led by corporate executives. In this piece, we shine a light on those G&I challenges, both established and emerging, in order to empower organizations to take control of their future as they proactively enhance returns on their G&I efforts.