It turns out that the word “innovation” is not a Harry Potter-esque magical incantation that, once spoken, renders companies more inventive, creative, and entrepreneurial. The word can be uttered by a CEO speaking to employees or Wall Street analysts. It can be emblazoned on the door to a new innovation center in Silicon Valley. It can be inserted into people’s job titles. (Yes, even Toys R Us had a head of innovation.)
The Biggest Obstacles to Innovation in Large Companies
Internal politics tops the list.
July 30, 2018
Summary.
What are the most common barriers to innovation in large companies? According to a survey of 270 corporate leaders in strategy, innovation, and research and development roles, they are: politics, turf wars, and a lack of alignment; cultural issues; inability to act on signals crucial to the future of the business; lack of budget; and lack of the right strategy or vision — in that order.
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New!
HBR Learning
Innovation and Creativity Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Innovation and Creativity. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Unlock your team's curiosity and willingness to take smart risks.