Last Friday, I was part of a panel discussion at Amity University's HR Summit on Innovation. The panel moderator asked me what the challenges were for large companies who wanted to innovate. Here were the points I made:
- Disruption vs Learning: All learning should lead to change in behavior, which should lead to a better way of doing things. However this disruption is tough to achieve
- Processes: Most organizational processes are designed for predictability, however innovation needs unpredictability
- Tolerance for failure: Organizations normally penalise failure, however innovation needs failure to finally succeed. Companies need to start penalising inaction rather than failure.
What do you think are the challenges for innovation in large firms?
