The whole system is rigged against innovation. When a Business Unit is weighing decisions about what to launch, it will make the safest bet, even if it means only slightly incremental growth. It will also judge all concepts through the lens of Legal, Brand, Finance departments and existing sales and distribution channels. This Top Down approach usually includes bloated Business Cases, fully thought-out programs that forecasts likely scenarios, and months of expensive Market Research that reinforce the argument.
Here is what we are learning. Corporations that have consumer-driven innovation programs outperform their competition that relies on an outdated model of RND to generate new value. Companies focused myopically on short-term value and a single profit motive only do less well than companies who embrace the emerging paradigm of Conscious Capitalism.
It takes two factors to make innovation real at an organization: concepts and culture. Work on both at the same time and the rest will emerge as a by-product of the process.