This is with reference to an article on the Forbes.com website.
The article starts with:
More than half of the money spent on innovation is wasted. At least, that’s the claim author and management consultant Geoffrey Moore makes in his book, Dealing With Darwin: How Great Companies Innovate at Every Phase of Their Evolution.
The next paragraph puts the article more in perspective:
If the corporate world has a Holy Grail, it’s innovation. Unfortunately, much of the current effort and expense isn’t fully focused, says Moore. Instead of concentrating on a few bold ideas that could revolutionize their companies, most firms put their resources in too many places, often creating product enhancements that don’t actually enhance the bottom line.
So they’re talking about specifically product innovation in companies? But innovation doesn’t mean only getting ideas about products to the surface, it also means investing in resources that allow employees and the company to grow because of ideas related to the growth of the company – whether that’s related to product development or not is a different issue. I would say that money spent to just bring awareness about innovation would be money extremely well spent.
The article also goes into talk briefly about “outsourcing innovation”, which seems like a much debated topic currently.