Innovation is the future delivered. Now suppose you’ve overcome organizational challenges and developed a culture of innovation, your next challenge is to put that new idea in the market; which has to meet another set of criteria in order to succeed.
It turns out the path to creating the future, from market knowledge and idea conception to execution, is messy. Considering that most attempts at innovation will fail, either by internal or external reasons, it’s smart to understand why new ideas fail to become innovations and thus be able to do something about it.
There are three major reasons why new ideas fail to become innovations:…