Innovative strategy is more than passion
Posted by Grant Brewer
It is not unusual to see organisations that are struggling because they allow the passion and the belief in a new idea to masquerade as strategy. It is true that new ideas will almost always fail unless someone has the passion and the belief in the idea to stay with it through all the challenges. However, fresh ideas and people that are passionate about them are not uncommon, yet successful businesses built on these same ideas are a lot less common.
Innovation is more than ideas. Re-inventing an industry or a product category takes more than research and a fresh take on the business model. Managing innovation and implementing new business models is notoriously difficult -- regardless of whether you're an established business, a new business unit or a start up company. It is a common mistake to assume that sheer passion and belief will bring a strategy to life. New ideas need the passion and the belief -- they also need good strategy, leadership and implementation.
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