7 big threats to innovation and how to overcome them
Innovation is the cornerstone of a successful business, so why is it so elusive to many companies? To determine the biggest roadblocks, consulting firm Imaginatik conducted a study of 200 professionals in its "State of Global Innovation" report. 35 percent of those surveyed were senior management, board members or C-Suite executives, and 76 percent of respondent's organizations had 1,000 employees or more. The results offer insight into what makes innovation stall at large companies.There's little doubt that business leaders see the value of innovation -- 95 percent of respondents say it's important enough to be a priority for C-level executives. However, while nearly every professional agreed that innovation was key, 44 percent reported that their business invested less than 2 percent of its annual operating budgets in innovation and 63 percent said their company didn't have a formal innovation-management structure in place.To read this article in full or to leave a comment, please click here