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Corporate Innovation Mistakes

The authors of this study published in The Harvard Business Review analyze the six most common mistakes made by executive teams when encouraging corporate innovation.

Scott Anthony, David Duncan, and Pontus M.A. Siren believe these are the most common innovation-related missteps:

  1. Asking employees to generate ideas without creating mechanisms to do something with them.
  2. Pushing for answers without defining the problems worth solving.
  3. Urging risk-taking while punishing commercial failure.
  4. Failing to provide access to a well-stocked laboratory.
  5. Expecting breakthroughs without allocating A-team resources.
  6. Demanding disruptive ideas, without dedicating resources for them.

The authors advise leaders seeking to increase their ability to grow their companies through innovation to “simultaneously direct it strategically, pursue it rigorously, resource it intensively, monitor it methodically, and nurture it carefully.”

 

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