Why bother to have a process for innovation?
In a rapidly evolving, or at least changing marketplace, there is typically a constant stream of business vying for the attention of a limited number of consumers in every industry, from commercial fishermen to clean energy companies. Even not for profit organizations and social enterprises compete for resources and the ability to survive.
Many times, as business leaders, we have heard the term “adapt or die” or something to that effect, suggesting that if we keep doing the same things we have always done, we will find that the market has moved on without us. You can look around at the marketplace at companies that failed to evolve. On the other hand, you can see the successes of companies that lead the marketplace and continue to thrive.