Public companies are often not set up for innovation, partly because their compensation systems tend to be short-term-oriented and because the boards aren’t deeply enough involved in innovation. […] We’ve seen a tremendous amount of innovation in the past 20 years, but a lot of it has come from younger, newer companies. Despite all the talent, capital, and customer knowlÂedge established corporations have, there do seem to be barriers. […] You have to put in place mechanisms to encourage people to bring forward ideas that could be risky without fearing that if circumstances outside the company’s control make the projects unsuccessful, their careers will be damaged.
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