Innovation is becoming the corporate strategy. Over 65% of CEOs surveyed by the Boston Consulting Group list innovation as one of their top three priorities. With increasing global competition and shrinking product lifecycles, it’s clear that true differentiation can come only through consistent innovation.
Strong cultures often discourage change or new strategies when they are most needed, and resist new approaches or new methods.
One of the biggest challenges to becoming more innovative as a firm is changing the corporate culture to accept and embrace innovation. While many approaches recommend adapting corporate culture to the innovation focus, little information exists on the methods to change corporate culture to accept and embrace innovation.