| Many companies fail to identify and develop | | | | obstacle also comes from a lack of understanding of |
| innovations that could significantly improve the | | | | the innovation process. People mistakenly believe that |
| bottom line. I have identified many "road blocks" to | | | | they must be experts in a particular area or have |
| innovation - here are several of the most common | | | | some special training to identify innovations. But, |
| issues that hold back business innovation. | | | | there are countless examples of individuals who |
| | | | come up with great innovations outside their "area of |
| 1. Lack of Knowledge - Many business leaders lack an | | | | expertise". Children can identify creative ideas when |
| understanding of how innovation can improve their | | | | given the proper environment to develop and |
| business. These individuals often believe that | | | | express those ideas. Often, individuals who are in |
| innovation is too expensive or is not appropriate for | | | | different departments of a company come up with |
| their company. In truth, innovation can have a | | | | great ideas, partly because they approach solutions |
| positive impact on any business - regardless of size, | | | | to problems in a "fresh" way - without being limited |
| industry or location. Learning how to implement a | | | | by the knowledge of how that department operates. |
| system for identifying innovations is a first step to | | | | I've been in many brainstorming meetings where |
| eliminating this road block. | | | | someone from a different department makes a |
| 2. Fear of Change - I also call this the "We have | | | | casual remark "Why don't you just...". To them, it |
| always done it this way" syndrome. This is a common | | | | seemed trivial, but the people working in the |
| road block in many companies. Employees (including | | | | department had never considered that option |
| managers and company executives) are afraid to | | | | because it was quite different from their current |
| change "the system". This is especially true when | | | | systems or procedures. Encouraging people to share |
| dealing with internal procedures, even though | | | | ideas outside their current job function can produce |
| innovative thinking can reduce operating expenses | | | | valuable innovations for any business. Make an effort |
| and streamline those procedures. This road block can | | | | to learn about innovation and implement a strategy |
| be overcome by understanding a simple approach to | | | | to identify innovations throughout your business. |
| evaluating internal procedures, and seeing examples | | | | Once you overcome the road blocks discussed |
| of simple changes to business procedures that made | | | | above, your business can begin to harness the power |
| a dramatic impact on the company. | | | | of innovation. |
| 3. "What do I know about this?" Syndrome - This | | | | |