Although corporate innovation is often touted as a viable strategy for sustaining exceptional performance in recent corporations, the successful implementation of corporate innovation stays quite elusive for most companies. A recent survey of approximately 500 executives disclosed that above 50% report a substandard innovation process, while less than 18% believe their own innovation strategy delivers a competitive advantage for firm.
Why Implementing Corporate Innovation is So Difficult Case Study Solution
While many causal reasons may be offered, our analysis on innovation and corporate entrepreneurship shows there are four essential implementation dilemma’s that most corporations lack in understanding or respond inefficiently. Effective recognition of and response to these four execution issues may represent the difference between those firms that produce a successful corporate innovation strategy and those that do not. The four issues are: (1) understanding what kind of innovation is being sought, (2) organizing managerial roles, (3) effectively using operating controls, and (4) properly training and preparing people. Together, these four problems appropriately dealt with and --if understood --help create an ecosystem that is powerful innovation within the organization.
PUBLICATION DATE: September 15, 2014 PRODUCT #: BH632-PDF-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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