A Hazard Of Innovation: "Falling In Love With Your Own Ideas"
Source: American Express
There seems to be widespread agreement that innovation is the path to profitable growth and competitive advantage. If that is true (I think it is true), then why aren't more people doing it? And why do so many new products fail. The largest reason new products fail, by far, is "falling in love with your own ideas." Companies are simply assemblages of people, and people, by nature favor their own ideas. Embed that natural characteristic in a setting where there is a lot of reinforcement of those ideas and there you have it.