Whether or not your company can innovate is going to be the big determinant of corporate success. Five essential characteristics determine if your organization has what it takes to innovate on an ongoing basis.
Businesses are becoming obsolete at an ever increasing speed. This is driven by forces like new technology breakthroughs and drastic shifts in customer needs; meanwhile markets have been disrupted by competitors pushing the productivity frontier or nimble, new entrants. Some companies have the natural drive and thrill for innovation but others struggle to sustain growth being unable to renew their business before it becomes outdated.