10 Barriers To Innovation
A report by the Chartered Management Institute, published in December 2009, entitled, Innovation For The Recovery
, identified the following 10 Barriers To Innovation:
- Excessive financial constraint
- Lack of time
- Lack of resources
- Risk aversion and fear of failure
- Organisational hierarchy
- Unclear leadership
- Insufficient incentives
- Insufficient training
- Insufficient talent
- Lack of autonomy.
To overcome the barriers to innovation, it is suggested that:
- There is more management support.
- Leaders model behaviours.
- The right team needs to be set up.
- Autonomy and freedom need to be encouraged.
- Failure needs to be tolerated.
- Opportunities to network.
- Allocation of dedicated resources.
- Appropriate incentives and reward.
At a time when the UK and many world economies are facing real challenges, innovation is surely part of the solution. An executive summary of the report is available at CMI’s website.
Duncan Brodie of Goals and Achievements helps accountants and health professionals to achieve success and realize their professional potential through being highly effective leaders and managers. For more information and to sign up for his free audio e-course click here
About the Author Duncan Brodie
Since 2006 I’ve worked with in excess of 8,000 accountants and professionals in workshops, seminars and one to one helping them land their next jobs and become better leaders, presenters and business partners. Before that I spent 25 years in accountancy climbing the career ladder from Payments Clerk to FD. I’m a CIMA Fellow, Certified Professional Coach and Team Coach Facilitator.