Monday, January 16, 2017

The Monthly Innovation Brief: The Barriers and Pitfalls in Innovation Management Jan. 2017

It is crucial to examine the causes of failure in innovation, the gaps and pitfalls on the way.
Innovation takes a cycle of observing-questioning-connecting-networking-experimenting. From a management perspective, innovation is how to transform novel ideas to achieve its business value, due to the hyper-complexity of modern businesses, innovation is essentially about reducing the unnecessary business complexity to tackle the complexities of business dynamic.

Here is a series of blogs to brainstorm the potential barriers and pitfalls in innovation management.

The Barriers and Pitfalls in Innovation Management

 The Achilles Heel of Innovation Management: Businesses today face fiery competition and rapid digital shift either technologically or economically. Most of the organizations are focusing on improving margins by reducing the bottom-line cost rather than top-line growth; because innovation and risk are proportional, also because very few organizations can master innovation and generally it has a very low success rate. So what is the Achilles Heel of innovation management? And how can organizations improve their innovation capability and reap more business benefit from it?

Three Silo Effects to Stifle IT Innovation Forward-looking organizations are reimagining the digital potential of IT and reinventing IT reputation from a cost center to an innovation engine. However, the majority of IT organizations still get stuck at the lower level of maturity, running as a siloed function. Despite the mountain of evidence pointing the detrimental effects of these silos, they still seem to be quite common in the organization. What are the root causes to silos? Are silos a mere product of organizational design? Or is their nature tied to human nature? What are silo effects which stifle innovation, and downgrade IT effectiveness and performance? What would be some ideas to assist in breaking down silos in an organization where they are present?

Innovation Gaps and Pitfalls: For most businesses, innovation is still serendipitous, not so many people like innovation, because innovation stands for risk, and that associated with trouble, and innovation management has overall very low success rate. It is crucial to examine the causes of failure in innovation, the gaps and pitfalls on the way. The objective is to raise awareness of what’s needed to improve the probability of success and make the innovation journey more delightful.

The Root Causes to Innovation Failures Innovation is the light every forward-looking organization is pursuing. However, for most businesses, innovation is still a serendipity, and innovation management has overall very low success rate. The reasons why innovation failure occurs vary widely, but dig further, here are some root causes to fail innovation.

How to Overcome Innovation Challenges?Innovation is to manage novel ideas and generating business value from them. Even innovation is the light every organization is pursuing, but often the term "innovation" has become so diluted or meaning it is hard to have even a basic conversation about it without problems of definition or interpretation arising - and perhaps in part why all sort of things can feel like innovation - even if they are faking it. So which factors are causes of innovation failure, and how to survive from innovation fatigue and pitfalls?

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