Instead, to create lasting and meaningful innovation, companies should draw inspiration from consumers’ unmet needs, matching them with technology that will enable a solution (regardless of current capability).
Lack of collaboration
This is just business as usual. Everyone is working in isolation instead of linking unmet consumer needs with what can be made now or in the near future. With no data exchanged, nobody is considering the creative application of current manufacturing to the consumer’s problem. So what happens? Ideas are pursued that consumers don’t really need, or that will sell at a price consumers aren’t willing to pay, or at a cost the company cannot afford.
No one wants to spend the currency—political or otherwise
Everyone starts their journey to innovation with good intentions, but only companies resolved to remove these obstacles are destined to blaze the trail for others to follow. BP
The author, Peter Clarke, is president and founder of Product Ventures, a packaging and product design and development agency, and a member of BRANDPACKAGING's editorial board. Contact Peter at 203.319.1119 or firstname.lastname@example.org.