By now it is almost gospel that investing in innovative new products and services helps a company's long-term success. That doesn't mean it's easy. A new study from Accenture, "Why 'Low Risk' Innovation Is Costly," found that fewer than one in five chief executives believes his strategic investments in innovation are paying off, and that this poor track record is starting to discourage companies from taking risks.
When innovation comes to mind, the first thing people might think of is creativity, spontaneity or a momentary stroke of genius. But can innovation occur out of a structured, repeatable process?
The answer, in short, is yes.