32% of global executives say that selecting the right ideas to commercialise is one of the biggest obstacles to innovation ROI

BCG Global Innovation Survey (2015)

In today's business climate, innovation is more important than ever. With the ability to quickly copy and improve upon successful ideas, companies must constantly be on the lookout for new ways to stay ahead of the competition. However, coming up with new ideas is only half the battle. Executives also need to be able to identify which ideas are worth pursuing and which are likely to fail. This can be a difficult task, as there is often no way to know for sure how an idea will perform in the marketplace. As a result, many executives err on the side of caution, only investing in ideas that are proven and safe. While this approach may lead to short-term success, it can ultimately stifle innovation and limit a company's long-term growth potential. To avoid this trap, executives need to be willing to take risks and invest in unproven ideas. While there is no guarantee of success, these bold investments are essential for driving innovation and achieving long-term success.

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