What are the disadvantages of too much innovation?
Successful innovation requires to be implemented. Innovation implementation requires a change in a business process. In some cases, it may require acquiring new skills. In short, innovation disrupts the status quo. The business has to learn to adapt to the innovation. Learning and adaptation involve time to test, scale up, and for the company to profit from the change.
Let us take the example of Tesla, one of the leading innovative companies in the world. The electric vehicle from the company took years to develop, test, and finally go into production. Customers lined up much before the vehicle’s launch. The first few Tesla’s had huge development challenges. These had to be resolved first. Only when that has been achieved can full-scale car production be undertaken.
Imagine a scenario where the design innovation team started producing new, improved versions of Tesla every month. The production line will never stabilize. Customers will be confused, support backups will not be ready, and the supply chain will be disrupted. There will be general chaos, and the business will crash.
Successful businesses like Apple, Tesla, SpaceX, Amazon, etc., use innovation in design as a strategy. These companies space the release of new models to keep customers’ interest alive.
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