77% of business executives: organizational bureaucracy—biggest barrier to innovation

Bureaucracy barrier to innovation

CITY A.M.

23 JUNE 2011

Three quarters of business executives think bureaucracy within organisations is the biggest barrier to innovation, according to a survey by London Business School. When polled, 77 per cent of the business audience said that improving incentives, reducing red tape and promoting greater flexibility in the business environment was key to stimulating entrepreneurship. Sir Andrew Likierman of the London Business School said: “Entrepreneurship and innovation are the key drivers of growth for both business and the economy in normal times. They are crucial right now in creating jobs to help economies emerge from the financial crisis. The poll also found that two-thirds said there should be greater rewards for innovative behaviour.

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