The conventional wisdom in management today is that innovation is essential for competitive success. Successful innovation, however, remains frustratingly elusive for many organisations. Part of the problem, says IESE professor Paddy Miller and innovation consultant Thomas Wedell-Wedellsborg in a recent article, is the myths that surround the innovation process. In particular, the authors identify four myths that are particularly dangerous and need to be vigorously challenged:
Myth 1 Creativity should be fun.
The authors define this as “perhaps the most pervasive” myth about innovation. Creativity should be a ‘feel good’ experience, and a nice break from the day-to-day grind of business as usual. In fact, innovation can often require activities - such as criticizing existing systems and processes, challenging senior managers and having hard conversations about what does and does not work – that many people may find anything but light and breezy.
Myth 2: There are no bad ideas
In fact, say the authors, there are plenty of bad ideas, and “many of them will sooner or later find their way to your desk.” Really good ideas are rare, and, as a manager, you just have to face the fact “that most of the ideas your people come up with will be bad, unworkable, or just plain crazy”. Instead, what managers need to do is clearly communicate what ideas are worth pursuing (and which ideas are not), as well as being aware of the likelihood that any truly innovative ideas just might, on first glance, seem crazy to an experienced manager.
Myth 3: Innovators are entrepreneurs
Many highly successful innovators, say the authors, lack “any entrepreneurial or commercial judgment at all’. They are too busy solving (or obsessing about) a problem, and are often among the last to see the commercial possibilities. That responsibility often needs to be carried by others.
Myth 4: Innovation is imperative
Contrary to conventional wisdom, innovation may not be essential for your business. Innovation has a real cost in time, money and resources, and this resource commitment needs to be traded off against other management priorities. As the authors observe, “it is crucial to remember that, despite all the hype, that your best innovation strategy might be not to innovate at all.”
