Is lack of innovation merely a symptom?

Question from John Thomas, a guest lecturer at Iowa State University.

Is it possible that a lack of innovation is merely a symptom?

-- Is the real cause of dysfunctional innovation and slow corporate growth the suppression of creativity?

My response:

A lack of innovation has always been a symptom of anemic or sustained growth. 40 years ago companies could ride the wave of a single innovation for 20 years! Today it might be 5 years or much less. This accelerated pace exposes and punishes companies who are unable to get past their previous successes.

In the past, we only needed one or two intrapreneurs within an organization who could drive new business from within, along with a serendipitous improvement or new product. Today, it’s all hands on deck to prevent irrelevance in the market place.

Many leaders fail to understand how their behaviors suppress innovation. Actions speak louder than words. Are they hiring innovative people? Are they willing to take calculated risks? Do they know how to create an environment conducive to innovation? Do they listen? Fortunately the market place is quickly rewarding those that do and is providing an accelerated education for everyone. Exciting times!