Many executives assume – incorrectly – that the present health of the company will persist indefinitely without investing in innovation … the do-nothing scenario.
Corporate leaders need to believe and understand that innovation is essential for survival and sustained growth.
While start-ups search for new radical business models to disrupt, established corporations are largely organised to execute a successful business model with utmost efficiency.
They are optimised to deliver repeatable products, revenue and profits.
Corporate culture is dominated by processes, procedures and incentives to improve the current business model. When you have so much to protect it can be hard to take the risk to innovate. And more often than not, it seems safer to follow known processes and procedures to maintain the efficiency of the existing machine.
Check out this fabulous article that details how to create and maintain corporate innovation!