An Ernst and Young survey of executives at large firms found that nearly 20% felt they were less innovative than their competitors. These companies however stated that innovation is critical to growth, competitivneness and profitability. Yet, less than half see themselves as more innovative than their competitors. Part of the sruvey investigated what might be preventing companies from being innovative.
Can you guess their answers? Why do firms believe they are prevented from being more competitive? 48% said a lack of appropriate personnel to executive innovation was a major barrier. And of course a lack of that “big idea” was also cited as a major roadblock.
“Innovators and entrepreneurs provide ideas today that will be the economic engine of our future,” reports Ernst and Young.
Entrepreneurs and Intrapreneurs! Does this imply if you are an entrepreneur or intrapreneur, there are opportunities for you? My take is Absolutely! If you are just a “tell me what I need to do to get by” person, than just stay in your hole.