A lot of companies that experience innovation success, grab onto it and believe that it’s their secret to an everlasting success. This mindset puts any company at risk of failure but refusing to evolve with the market can be even more devastating. “Without a robust and resilient innovation strategy, no company can survive,” says Phil McKinney, CEO of CableLabs. A good reminder that successful companies aren’t necessarily invincible.
“Innovation labs have become popular as a way for established corporates to manage innovation. […] It appears that companies are finding innovation labs to be good way to explore new technologies and startup ideas.”
“What we are learning is that the opening of the innovation lab itself often represents innovation theater – played out at the leadership level within the company.”