The Cost of Innovation
Innovation is not a simple process. It's time-consuming and can be costly. That's right, innovation doesn't come cheaply. If you're set to really make a push in that direction (and most of us here are already going there), make sure you consider ALL of the costs.
Today we'll look at the affordability question of innovation from a contrary viewpoint. Usually people in my position sit hectoring business leaders about the fact that they "can't afford to not to innovate" which as we all know is poor grammar, a double negative and a lecture, all rolled into one. While saying this may make me feel righteous, and while I am probably correct, it behooves us to turn the tables around and ask ourselves - if we decide that innovation is important in our business, can we afford to do it? Innovation has several costs [...]