56 Reasons Why Corporate Innovation Initiatives Fail

56 Reasons Why Corporate Innovation Initiatives Fail

Corporate innovation often fails. The following list identifies a number of reasons why this is the case. It is not exhaustive, please feel to post other reasons by way of comments.

  1. “Innovation” framed as an initiative, not the normal way of doing business
  2. Absence of a clear definition of what “innovation” really means
  3. Innovation not linked to company’s existing vision or strategy
  4. No sense of urgency
  5. Workforce is suffering from “initiative fatigue”
  6. CEO does not fully embrace the effort
  7. No compelling vision or reason to innovate
  8. Senior Team not aligned
  9. Key players don’t have the time to focus on innovation
  10. Innovation champions are not empowered
  11. Decision making processes are non-existent or fuzzy
  12. Lack of trust
  13. Risk averse culture
  14. Overemphasis on cost cutting or incremental improvement
  15. Workforce ruled by past assumptions and old mental models
  16. No process in place for funding new projects
  17. Not enough pilot programs in motion
  18. Senior Team not walking the talk
  19. No company-wide process for managing ideas
  20. Too many turf wars. Too many silos.
  21. Analysis paralysis
  22. Reluctance to cannibalize existing products and services
  23. NIH (not invented here) syndrome
  24. Funky channels of communication
  25. No intrinsic motivation to innovate
  26. Unclear gates for evaluating progress
  27. Mind numbing bureaucracy
  28. Unclear idea pitching processes
  29. Lack of clearly defined innovation metrics
  30. No accountability for results
  31. No way to celebrate quick wins
  32. Poorly facilitated meetings
  33. No training to unleash individual or team creativity
  34. Voodoo evaluation of ideas
  35. Inadequate sharing of best practices
  36. Lack of teamwork and collaboration
  37. Unclear strategy for sustaining the effort
  38. Innovation Teams meet too infrequently
  39. Middle managers not on board
  40. Ineffective roll out of the effort to the workforce
  41. Lack of tools and techniques to help people generate new ideal
  42. Innovation initiative perceived as another “flavor of the month”
  43. Individuals don’t understand how to be a part of the effort
  44. Diverse inputs or conflicting opinions not honored
  45. Imbalance of left-brain and right brain thinking
  46. Low morale
  47. Over-reliance on technology
  48. Failure to secure sustained funding
  49. Unrealistic time frames
  50. Failure to consider issues associated with scaling up
  51. Inability to attract talent to risky new ventures
  52. Failure to consider commercialization issues
  53. No rewards or recognition program in place
  54. No processes in place to get fast feedback
  55. Inadequate sense of what your customers really want or need
  56. Company hiring process screens out potential innovators

 

 

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