Top Barriers to Innovation Success

Source: a survey of 200 U.S. companies by Kuczmarski & Associates

ØPredominance of a risk-averse culture

ØLack of metrics relating to return on innovation investment

ØLack of innovation strategy / new product strategy. (Managing a product list instead of a cohesive strategy)

ØInsufficient human resources

ØPoor communication between levels of management and across functions, which interfered with setting clear expectations.

Understanding the Innovation System – Unlocking the Black Box

Adapted from "Relentless Growth", Christopher Meyer

The Innovation System model synthesizes and defines the core elements of innovation, their behavior and interaction. The power of this good model makes it easier to understand complex issues and dynamics of innovation, separate its elements and examine them is greater depth. It establishes a framework that helps you to demystify the innovation process and its driving forces, to reveal the unique innovation practices of market champions and understand what makes them so successful and unique.

The Six Core Elements of the Innovation System

ØLeadership & Management – provides inspiration, makes key choices, and organizes the development process.

ØStrategic Alignment – links innovation strategy with corporate goals, strategy, and objectives.

ØInnovation Process – defines who does what, when, and how.

ØOrganization & People – channel resources, define norms, provide infrastructure, drive innovation.

ØMetrics – provide the guidance and control system for innovation.

ØCorporate Culture – determines how the above elements behave and interact with each other.