Top executives talk about innovation but often fail to walk the walk. A lack of innovation education, risk aversion, and a focus on short-term gains all contribute to this.
Target's recent decision to cut two innovation projects is a missed opportunity for future growth and suggests a lack of commitment to R&D, which is increasingly vital for all industries in the age of global competition.
Successful innovation isn't about dreaming up science fiction, it's about predicting what will be normal tomorrow. Small, incremental ideas can be just as effective as breakthrough solutions.
