Innovation Labs: Flying, or Failing? | Intrapreneurship Conference

Innovation Labs: Flying, or Failing? | Intrapreneurship Conference

Despite the growing number of innovation labs, accelerators, and outposts, many fail within three years of their launch. The reason behind their failure is often due to a lack of integration with the core company, a focus on tweaking instead of transforming, building from within instead of external innovation, a focus on PR rather than commercial viability, and a lack of strategy. These issues lead to disjointed processes, lack of effective change, an inability to innovate from outside, a skewed focus on image over true innovation, and a lack of clear direction. To succeed, companies need to integrate innovation with the core company, focus on transformative ideas rather than tweaks, find external innovation sources, prioritize commercial viability over image, and align innovation with overall business strategy.

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More Innovation Resources:

Addressing Business Innovation Gaps to Achieve Growth

Addressing Business Innovation Gaps to Achieve Growth

Business innovation gaps can hinder growth. Addressing issues such as software use and management structure can help close these gaps.

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A Cascade of Better Choices for Greater Innovation Outcomes

A Cascade of Better Choices for Greater Innovation Outcomes

To achieve consistent innovation, organizations need a well-articulated and well-communicated strategy that can be delivered in an organizing framework. The Executive Innovation Work Mat aims to engage top management and cascade the innovation strategy throughout the organization.

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3 Lessons for innovation managers from the Real Wolf of Wall Street

3 Lessons for innovation managers from the Real Wolf of Wall Street

Jordan Belfort, the real life Wolf of Wall Street, shares lessons on innovation, ideation and pitching ideas. Learn about vision, modeling innovation heroes, controlling your inner state, and creating a killer pitch.

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