Innovation In Business: The Real Reasons Most Companies Can’t Innovate

risks and innovation, Jim Woods Business Coach

Innovation is an uneasy adventure. Like all adventures in fables there are always enormous risks with alternatively  enormous opportunity. Not all adventures turn out well. No, that is incorrect. They do. However, to see the adversity as a misstep instead of a cue for permanent failure is the resolve of a true leader.

There are two main reasons that most companies can’t innovate:

Personal Comfort

Innovation requires risk-taking and experimentation that challenges the status-quo. Very few people want to “shake up” their world and are afraid to take the risks necessary to create something new. We find our surroundings comforting, our technology familiar, and the established pathway looks a lot more navigable than the unknown.

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How many big risks have you taken in your life? Most people will answer that they have taken less than ten. To innovate, you must be willing to take big risks daily or weekly, not every few years. Even more important, you must systematically search for the best risks to take. The majority of adults I know try to mitigate risks, rather than exploit them, which prevents them from innovating.[…]

Adapted from Inc.com.

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Jim Woods is a competitive strategy and leadership expert and founder of InnoThink Group a management consulting firm located in Colorado Springs, CO. where he serves as president. InnoThink Group is a management consulting firm. To help embody leadership, build engagement, improve communication, and create a high trust culture.

Jim has worked with Fortune 500 firms, US military and non-profits. He brings a unique background of business, interpersonal skills, experience, to each of his consulting, speaking and coaching engagements. He is a sought after speaker on strategic leaders, competitive strategy, innovation, team building, employee engagement and uncertainty. To contact Jim for an engagement contact him at his website. Click here. 

 

About

Jim Woods is president of The Jim Woods Group. A management consulting firm. Go here to see his work www.jimwoodsgroup.com. He advises and speaks to organizations large and small on how to increase top line growth in times of uncertainty and complexity. Some of his speaking and consulting clients include: U.S. Army, MITRE Corporation, Pitney Bowes, Whirlpool, and 3M. See more at his website www.jimwoodsgroup.com.

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