The Right Timeframes for Innovation

The Right Timeframes for Innovation

Timing is a crucial factor in innovation, however, commitment proves to be the biggest impediment. This article explores various timeframes for innovation and the obstacles that come with them. The quarterly timeframe proves to be problematic due to the need for immediate results, while the annual timeframe is limited by budget constraints. A three-year innovation objective is most realistic, but many firms fail to commit to this timeframe due to limited resources. Lastly, trend spotting and scenario planning are essential components for understanding the distant future of innovation. The right timeframe for innovation includes all of these timeframes and building incremental innovation through organizational commitment and intention.

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