What limits innovation in established companies

Gary Hamel's Wall Street Journal article argues that while innovation is crucial for established companies, few have successfully cultivated an innovative culture. Hamel suggests strategies such as training employees in innovation techniques, incorporating innovation goals into annual plans, and establishing a well-defined innovation process. He stresses the importance of defining what innovation means and how it aligns with corporate goals and objectives to encourage managers to hold themselves accountable for mentoring new business initiatives. By encouraging trend spotting and scenario planning, companies can gain insights and create a more innovative culture.