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Despite massive investments of management time and money, innovation remains a frustrating pursuit in many companies. Innovation initiatives frequently fail, and successful innovators have a hard time sustaining their performance—as Polaroid, Nokia, Sun Microsystems, Yahoo, Hewlett-Packard, and countless others have found. Why is it so hard to build and maintain the capacity to innovate? The reasons go much deeper than the commonly cited cause: a failure to execute. The problem with innovation improvement efforts is rooted in the lack of an innovation strategy.
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What gets measured gets managed. Innovation is not serendipity; it’s a managed process of transforming novel ideas to achieve their business value. You can only manage what you measure.
If you have heard the terms innovation pipeline, innovation funnel, and innovation portfolio, you might have wondered—what is the difference?
The development co-operation community needs to innovate to meet the global challenges ahead.
Innovation isn’t always easy. Turning your idea for a new product, process or service into something people need, want and will pay for can take time, effort, resources, and your resourcefulness.
There are so many places where innovation is essential within the Energy Transition, due to the magnitude, size, and complexity of the change needed to achieve a decarbonized world.