Why Do So Many Innovation Programs Fail?

Why Do So Many Innovation Programs Fail?

According to McKinsey’s Global Innovation Survey, only 6% of executives are satisfied with their innovation performance. This article discusses why innovation programs often fail to meet expectations and offers tips for how organizations can avoid common pitfalls. While there isn’t a single strategy or initiative that can guarantee innovation success, aligning your strategy, structures, processes, and capabilities can go a long way towards creating a system where innovation thrives. The article details the most common causes of failure and offers practical advice for building a successful innovation program, such as understanding the different types of innovation initiatives and knowing how to address organizational barriers.

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