It’s not that big companies can’t produce innovations; they can. The problem is the scale and success of notable innovations are abysmal. Despite their efforts, large companies too often come up short in finding and commercializing major innovations.
We’ve been trying to fix Corporate Innovation’s productivity problem for over three decades and the results aren’t good. The best we get is to ring-fence all innovation work from the core business, and to change mindsets, leadership approaches, and entire cultures.
If you’re new to the game, the recommendations might seem on target and powerful. But if you’ve been at it for more than a decade, you’re hearing the same old stuff only with new nouns and verbs. And slide presentations are transformed are supposed to be more engaging because they use chalkboard fonts and stick-man drawings.