5 Stupid Things Companies Do to Mess Up Their Innovation | Executive Street

Even after 20 years as an Innovation Management Consultant, I continue to be amazed at the failure rate of innovation. In fact, some studies suggest that as much as 80 percent of new product introductions fail. Maybe even more shocking is the fact that less than two percent of the 3,000 patents that are issued each week will ever reach market success. What’s interesting about all this is that most of the mistakes that cause these failures come from five basic screw-ups. The result is wasted time, wasted money, and, in some cases, wasted brand equity. So, what are these five mistakes?

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