Forbes article: America’s innovation readiness is not ready
Added by Michael Bromage on July 10, 2024 at 11:17 am.
This is an interesting article about institutions and organisations practicing ‘innovation theatre’ rather than contributing actual innovation:
“Every so often, a report or survey appears that challenges our beliefs about how the world works. Boston Consulting Group’s [BCG], new report, Innovation Systems Need A Reboot, a survey of how corporate leadership thinks about innovation, and how ready these organizations are to deliver on their innovation intentions, does just this. Can we imagine that in the twenty-first century, that there are still corporations where innovation has not achieved a reliably important position in the executive mindset? Sounds incredible, doesn’t it, but this is exactly what BCG’s survey is telling us. This is alarming for all of us who take corporate innovativeness for granted, but it also demands that we re-examine many of the instinctive assumptions we hold regarding how executives think, and act, regarding their strategic priorities.
One finding, alone, is staggering; not only is America’s “innovation readiness,” not ready, but the way in which innovation executives think, globally, about innovation as a corporate strategic asset is frightening. BCG’s survey, the eighteenth annual survey it has conducted on leading innovative practices, which calls upon the insights and opinons of one thousand and three senior innovation executives, from around the world, opens with the sobering recognition that: “Companies have never placed a higher priority on innovation—yet they have never been as unready to deliver on their innovation aspirations.”
The problem lies not so much with the hardware, as it does with the software; the social-side of innovation. Fascinated, as we may be, by the bling of new technology, it is a failure to adjust skills and talent, organizational processes and leadership that creates most of the disconnect between ideation and delivery. The result is that, in an era of tumultuous change, we are not prepared; and as Louis Pasteur, an innovator who changed the fortunes of our species, pointed out, “chance favors only the prepared mind.” Not being prepared extracts a high-price; and puts us all at risk.
Continue reading the article at the source: Forbes…
https://www.forbes.com/sites/billfischer/2024/06/23/americas-innovation-readiness-is-not-ready/
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Last updated by Michael Bromage on July 10, 2024 at 11:20 am.
