Innovation is high on the agenda for 2011 in virtually all industries. The accelerating pace of change is a major reason why CEOs polled for PwC’s 14th Annual Global CEO Survey believe innovation is now as important to growing their businesses as expanding in existing markets.
So how do successful innovators create the processes, structures and practices to move the handful of viable ideas all the way to implementation? We’ll begin by breaking down some of the misconceptions surrounding innovation.
Common Innovation misconceptions:
- Responsibility for innovation can be delegated
- Senior and midlevel managers are the natural allies of innovation
- Innovative talent works for the money
- Innovation results from lucky accidents
- The more open the innovation process, the less disciplined
- Businesses know how much innovation they need
- Innovation can’t be measured
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