Several obstacles have been uncovered that hinder the growth of innovation, especially at large companies. Politics, turf wars between the internal leaders and a lack of cohesive alignment are common reasons stated. The lack of vision or a flawed corporate strategy is one more. Some companies even suffer from budgetary issues, especially on the developmental aspects. Cultural issues may also be a concern. Companies also fail to act on certain critical signals that can be a harbinger for much evolution the industry. Many fail at the talent recruitment process. This can lead to a team without the high demand skill sets. The top management, including the executive level not supporting wholeheartedly in the initiatives is a common flaw. CEOs must be especially proactive.

Source:https://hbr.org/2018/07/the-biggest-obstacles-to-innovation-in-large-companies?utm_medium=social&utm_campaign=hbr&utm_source=twitter

Uploaded Date:29 August 2019