A recent study of global executives found that 31% believe that a risk-averse culture is one of the biggest obstacles to innovation ROI.
This finding is not surprising, as many organizations struggle to balance risk and reward. On one hand, companies need to be willing to take risks to spur innovation and generate new ideas. However, they also need to be mindful of the potential cost of failure. As a result, many organizations find themselves stuck in a cycle of stagnation, reluctant to take risks that could lead to either success or failure. To break out of this cycle, companies need to find ways to encourage employees to take calculated risks that have the potential to bring about real change.
Only then will they be able to achieve the levels of innovation ROI that they are striving for.