Innovation Insights: Why fast-tracking an innovation project is the wrong solution?
Jan 28, 2025
For a brand owner, it’s estimated, for 85% of the innovation project, that there’s no need to rush it. An early start is what you should focus on. Another symptom of reactiveness is when a senior manager asks to find a way to accelerate the innovation development process because it’s perceived as being too slow. While it’s often possible to expedite innovation development, it’s certainly riskier, more expensive, and comes at the cost of employees’ well-being. It should be used when proactivity is not an option anymore, for example, if a competitor is threatening your cash flow.
Let’s say you have an employee who is often late at work. What advice would you give them? Would you suggest they buy themselves a Ferrari to get to the office faster, or rather that they leave earlier so that they have some buffer time in case they face traffic? Fast track development is an approach that organizations should use in exceptional cases, like an ambulance responding to a call. However, if the highway is packed with traffic, this approach loses its effectiveness. Innovation management is the same. For a brand owner, being proactive is the solution for 85% of cases, as opposed to an accelerated process. The best way to start early is by knowing where to put your efforts. This is the purpose of an innovation strategy.
Image Sources: Innovation Leaders Club
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