As a critical source of competitive advantage, innovation certainly deserves the attention it receives. But innovation is also notoriously difficult to manage. And while recognized innovators are widely admired for their achievements, every business leader knows that the pursuit of innovation is exceptionally challenging even as it is entirely necessary.
The roots of the problem lie in the fact that innovation takes place at the crossroads of two critical uncertainties: uncertainty about the future, and uncertainty about what will be best for our organization.
Given these issues, executives face two key questions:
- First, What innovations should our organization be pursuing?
- And second, How should we create them?
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