Slow Innovation: PROs, CONs and Tips
Anneke Zwart, Student (University), Netherlands, Moderator
When we talk about innovation, we often associate it with disruptive innovation efforts / large-scale processes that change an organizationís business model or products quite radically. But, there is a slower form of innovation that needs attention as well. Slow innovation emphasizes slow changes, for example in cultural patterns that will slowly transform organizations or sectors but that don't have a big immediate impact.
Slow innovation projects can be just as valuable as the quick and large-scale ones, in the long run. However, as the benefits are not reaped as quickly, it is sometimes harder to convince boards or key people and funding is harder to get.
ADVANTAGE OF SLOW INNOVATION
So what is the major advantage of slow innovation? According to Ford and Tarditi (2017), it is about prescience. The key is to act patiently and to be committed to an idea or gap in the market that eventually might lead to transformative business endeavours.