Organizations appear to be overlooking innovative talent within their ranks, thus squandering opportunities to collectively move forward, according to an IBM report.
The report is the first in a series the company will undertake in the coming months on the topic of innovation.
Initial research has found that half of the respondents believe the organization they worked for was not open to innovation. This is despite the fact they believed in the statement 'Innovation can aid in the success of my organisation'.
According to Megan Dalla-Camina, IBM's director of strategy and marketing for Australia and New Zealand, Australian business people see innovation as risky, expensive and time consuming. "In my view, this reflects the fact that people still equate innovation with invention."
IBM will use the research to impress current clients and hopefully lure potential clients.
Dalla-Camina says that innovation is no longer confined to R&D labs.
"The real value lies in combining these enablers in new ways: not only to innovate at a product level, but to extend innovation to services, to business processes, business models, and even to an organization's management and culture," said Dalla-Camina.
The research was conducted in early March with 300 professionals from companies of more than 50 employees.