Is innovation inherently a hit-or-miss endeavor? Not if you understand why customers make the choices they do.
Blue Landscape (charcoal, ink, marker, and pencil on paper) Marijah Bac Cam
For as long as we can remember, innovation has been a top priority—and a top frustration—for leaders. In a recent McKinsey poll, 84% of global executives reported that innovation was extremely important to their growth strategies, but a staggering 94% were dissatisfied with their organizations’ innovation performance. Most people would agree that the vast majority of innovations fall far short of ambitions.
A version of this article appeared in the September 2016 issue of Harvard Business Review.