Big companies still struggle with innovation; their innovation process is “sluggish” even though they depend on innovation for success and even though they are investing heavily in innovation.
According to Coley Brown, VisionMine CEO, in the recent article “Behemoths Struggling to Innovate Hire Small Companies to Help” published recently in BusinessWeek and written by Karen Klein:
“The reason they are failing is that it’s easy to come up with an idea but hard to get it implemented. And the bottleneck is the willingness to take risk,” Brown says. “Bring a small organization into the process with 10 or 15 people with tech expertise, and the group tends to work very quickly and do something in a couple of days that the large organization might do in a couple of months.”
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