Why Some Large Companies Can't Innovate Faster
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If you ever wondered why do some of these large enterprises even with access to all kind of resources still fail to innovate? The attached slides talks about some of the challenges that the large companies face in their path to innovation. Thanks, Hemanth Kempanna
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Why Some Large Companies Can't Innovate Faster
- 1. Why Some Large Companies Can’t Innovate Faster Hemanth Kumar Kempanna hemanthkumar.Kempanna@ipl.edu.in
- 3. Too many Internal Processes and Layers of Bureaucracy
- 4. What worked in Past may not work in future !!
- 5. Unrealistic Expectations from Strategic Innovative Projects
- 6. Reputational Risk – Impact if gone wrong is high!!
- 7. Summary Even though large companies may not have issues around funding, brand recognition or finding early adopters for their new innovations, the large companies will still have different kind of issues to deal with and these issues are equally complex, political and time consuming to address.
Editor's Notes
- How many of you have had similar kind of experiences? Can we please have a show of hands please. Thank you. So almost half of you have experienced this and don’t you think it’s a ground reality in some of the firms?
- Review the Reviewers: With larger organizations there are chances that great ideas that their staff may have may never reach the decision makers thus in turn resulting in a missed innovation / business opportunity.
- What worked in past may not always work in future. Please remember you were trying to solve different customer problems altogether.
- In Most Companies they expect similar ROI and profitability across their well established business which needs to be treated as their cash cow v/s a BU heading R&D, Innovation or Strategic experiments projects
- Compared to smaller companies, the larger companies have everything to lose if things fail which makes them go through rigorous quality testing procedure thus slowing down the time to market.