What Are the Challenges of Implementing Innovation?
While innovation can drive success, it also comes with challenges:
1. High Costs: Innovation often requires significant investment in R&D, technology, and talent. 2. Resistance to Change: Employees and stakeholders may resist new ideas or processes. 3. Market Uncertainty: Introducing new products or services can be risky, as market acceptance is not guaranteed. 4. Intellectual Property Issues: Protecting innovative ideas from being copied by competitors can be difficult.