To some organizations, starting an innovation effort seems easy. Just hire some consultants, host a few all-hands meetings and then decree that the organization is embracing innovation. Sustaining innovation over time is incredibly hard. Without a long term commitment, most organizations experience innovation collapse.
Are there weak signals that an organization is heading towards innovation collapse?
4 Signs Of Coming Innovation Collapse
Here are four signs that organizations should keep a look out for.
- Innovation Out Of Fear: For sustained innovation, an organization needs to have a bedrock reason why innovation is important. For some, it's out of fear. Fear that share price is suffering because of a lack of innovation. Fear that everyone else is doing it and the organization is being left behind. While fear is a catalyst for innovation, its not a sustainable motivator.
- Competitive Urgency: For many organizations, their idea of innovation is responding to their competitors actions. When a competitor launches a new product or service, the organization responds by catching-up. Its innovation effort is reactionary which is not a sustainable approach to innovation.
- Innovation Silos/Innovation Fragmentation: Some organizations will attempt to catch-up by starting a large amount of innovation projects. The innovation version of throwing spaghetti against the wall to see what sticks. Projects will make everyone feel like they are doing something but without coordination and prioritization, the odds of success are slim.
- Lack of Will Power: For an organization to create a sustainable innovation program, their leadership will need to make some changes. Do they have the will power to do whatever it takes for innovation success?
During this weeks show, we discuss in more detail each of the 4 signs of pending innovation collapse.
We also share what you can do to avoid it.
[callout]Click below to listen to this weeks show on innovation collapse.[/callout]