Why corporate innovation fails and what to do instead

Many businesses fail due to their inability to adapt to changes required by their market over time. Innovation is a must for remaining relevant and profitable, but failure is an inherent part of it. Success in innovation anchors on three things: producing value, satisfying end-users, and maintaining a positive balance in the net cash flow of your business. This article explains why corporate innovations fail and offers practical solutions to avoid the potential repercussions. The article highlights reasons for failure, such as weak leadership, choosing the wrong problems to solve, and a lack of innovation culture. It offers practical solutions such as aligning innovation strategy, operating executives and innovation teams, and understanding KPIs for the health and success of your business.