{"id":45664,"date":"2020-12-09T19:44:38","date_gmt":"2020-12-09T19:44:38","guid":{"rendered":"\/us\/en\/blog\/?p=45664"},"modified":"2022-12-30T07:05:10","modified_gmt":"2022-12-30T15:05:10","slug":"3-common-innovation-barriers-for-global-tech-companies","status":"publish","type":"post","link":"\/us\/en\/blog\/3-common-innovation-barriers-for-global-tech-companies\/","title":{"rendered":"3 common innovation barriers for global tech companies"},"content":{"rendered":"

From pharmaceuticals to automobiles to clothing, innovation propels companies into leaders within their sectors, winning customer loyalty and market share. But where innovation is an auxiliary goal for some industries, it\u2019s the core objective for global tech companies. In fact, in an industry that\u2019s getting more and more diverse and difficult to categorize\u2014tech companies enable everything from streaming movies at home to manufacturing robots\u2014you might say that innovation is the truest way to capture the technology sector\u2019s unifying mission.<\/span><\/p>\n

Innovation has always been the lifeblood of tech, a sector dedicated to helping people and businesses to do more, and to do it better and faster. And as we discussed in the <\/span>first post of our Culture of Innovation series<\/span><\/a>, prioritizing innovation is more critical than ever as we begin to emerge from the COVID-19 crisis.<\/span><\/p>\n

Tech leaders recognize this imperative, but even they are lagging. According to\u00a0<\/span>research from McKinsey<\/span><\/a>, the pharmaceutical and medical supplies industries are the only two that have prioritized innovation to the top of their lists. Meanwhile, just a meager 21% of executives across sectors say they have everything they need to\u00a0<\/span>capture new growth opportunities<\/span><\/a> in the coming year.<\/span><\/p>\n

If tech can\u2019t get innovation right, then who can? In our first innovation post<\/a>, we explored the critical components for establishing a culture of innovation. But we recognize that there can be many things standing in the way of achieving the ideal climate for nurturing innovation, for both startups and legacy companies. As such, a conversation about fostering a more collaborative, innovative corporate culture would not be complete without also addressing the barriers global tech companies face when it comes to innovating.<\/span><\/p>\n

Innovation barrier #1: poor communication<\/b><\/h3>\n

More than 50% of employees say they experience difficulties communicating and collaborating with colleagues and external stakeholders, according to data from IDC1<\/sup><\/span>. For geographically distributed organizations, this problem can be even worse with disparate locations, time zones, and communication technologies all standing in the way.<\/span><\/p>\n

Poor communication makes it harder to bounce around ideas and discuss potential breakthroughs, and it erodes innovation in other ways too. For example, for employees to conceive and develop groundbreaking projects that are aligned with the company mission, they must first have a good understanding of their organization\u2019s objectives and priorities. This is instilled through both formal and informal communications and touchpoints, from company-wide newsletters, AGMs and town halls, to team meetings and one-on-ones with managers. Without ongoing reinforcement and opportunities to create buy-in, it\u2019s difficult for individuals to come up with fresh ways to further their organization\u2019s mission. Effective communications also help to get everyone on the same page and build trust, both crucial when employees put their heads together to come up with the next new thing.<\/span><\/p>\n

<\/p>\n

\n
\n\t\t\tSupporting innovation in high-tech\t\t<\/div>\n
\n
\n
\n\t\t\t\t\tUnified communications gives teams everything they need to collaborate, wherever they work.\t\t\t\t<\/div>\n<\/p><\/div>\n
\n