Are your company’s innovation efforts set to fail? Do you, or can you, recognize the red flags? According to Stefan Lindegaard, strategic advisor and author of the article Ten Red Flags for Innovation – Why It Fails, innovation is complicated and it’s not always easy to spot the red flags of failure! But, we can get better at recognizing the signs!
If you don’t know how to identify your organization’s ‘red flags’ here are a few tips that Lindegaard uses to help his clients look for when trying to understand their innovation capabilities:
- The lack of innovation strategy – Having no clear direction.
- No definition of innovation – Innovation means different things to different people. Every organization should have its own definition of innovation .
- Too much focus on open innovation – A key to innovation success is the ability to combine internal and external resources and be in a position to act on opportunities.
For more signs that will help you recognize if your company’s innovation efforts are doomed click here.
– DeAndra Clark
“You always pass failure on your way to success.”