The Big 10 Innovation Killers

by Joyce Wycoff
“70% of all business initiatives fail.” – Harvard eLearning Alert
While it’s probably impossible to compute the exact percentage of business initiatives that fail, it is widely acknowledged that most do. After years of research and observation, it is clear that the same reasons for any change initiative failure tend to be the same culprits that make innovation initiatives fail. Here are the top ten reasons for innovation failure:
  1. Not creating a culture that supports innovation
  2. ownership from business unit managers
  3. Not having a widely understood, system-wide process
  4. Not allocating resources to the process
  5. Not tying projects to company strategy
  6. Not spending enough time and energy on the fuzzy front-end
  7. Not building sufficient diversity into the process
  8. Not developing criteria and metrics in advance
  9. Not training and coaching innovation teams
  10. Not having an idea management system

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