Barriers to Innovation in a Corporate Environment

 

Innovation pic

Innovation
Image: entrepreneur.com

Diane Kaern has substantial experience in financial reporting, cost reduction and management, and risk management. While working as a sales operations manager for the Hewlett-Packard Company and finance manager for Siemens AG, Diane Kaern successfully designed and implemented process improvements that helped executive management achieve company objectives.

Successful companies are often characterized by having a culture of innovativeness that encourages and rewards people who implement process efficiencies and develop breakthrough products and services. However, these companies are also susceptible to getting wrapped up in bureaucratic procedures or being too complacent and set in their ways. A company culture that does not provide an avenue for creativity and risk-taking will find it challenging to ideate and develop innovative solutions.

Complacency, or the strong desire to protect the status quo, can compromise a company’s potential for continued success. Companies that are too attached to their initial success may fail to capture and adjust to market trends and changes. To address this, senior management should have a future and an external focus; rather than being preoccupied with the company’s current performance, it should anticipate what is likely occur in the future and have an awareness of, among other things, customer needs

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