5 Challenges of Innovation in Business

Innovation is a critical initiative for organizational growth and success, but it can be a challenging process due to several internal challenges. The first challenge is the absence of an innovation strategy to define the direction and operations of innovation. Another challenge is the lack of employee motivation and empowerment, which hinder internal innovation. Additionally, when innovation is limited to just one functional group, a business may miss out on unique perspectives and ideas from other departments. A lack of collaboration and missed customer connections are also common challenges. Overcoming these challenges is necessary for long term success.