Innovation within the enterprise requires a balancing act between focusing development resources on your core business unit and dedicating resources to building the next big thing. While delivering incremental improvements to your core product delivers tangible, comfortable results, it also brings corporate red tape, IT compliance and risk management.
While this is the lifeblood of any large organization, it also runs counter to true innovation. Recently, many corporations have successfully managed this conflict by spinning up dedicated innovation departments that focus on building the next revenue-driving business unit. But as many internal innovators have discovered, standing up a team that has the resources and expertise to take a product from ideation to launch to growth is far easier said than done.
Innovation, whether incremental or break-though, requires dedicated resources and room to run. External agency partners can make this process much easier for corporations, moving outside the red tape and business expectations that often stop innovation in its tracks.