Cisco: Innovation May Not Grow on Trees, But it Can be Cultivated
Much to the dismay of countless business leaders everywhere, innovation doesn’t just happen by magic. Creating a pervasive innovation culture within any organization takes time, effort, and strong leadership. But if the importance of innovation is so universally acknowledged, why do so many struggle with it?
It’s no secret that well-established businesses find it much harder to innovate effectively than lean start-ups. This is because they tend to be overly fixated on optimizing existing business activity (i.e. the source of their current success), rather than taking the time to think about where the future of the business lies. Whilst perhaps understandable, it’s a foolish mentality.
The truth is that today, even well-established businesses are just one disruption away from oblivion. Just ask Blockbuster, Borders, or Blackberry. It’s not just the obvious ones either. One hundred years ago the average lifespan of a company was around 67 years. Today, that has dropped to just 15 years. So as a leader, what can you do if you’re being kept awake at night by innovation woes?
Read the entire article here, Innovation May Not Grow on Trees, But it Can be Cultivated
via the fine folks at Cisco Systems.