ABSTRACT
In today's dynamic business landscape, companies confront myriad challenges that hinder innovation and growth. This paper delves into the primary barriers, including cultural resistance, limited resources, fear of failure, regulatory and compliance issues, and a lack of knowledge or skills. Drawing insights from real-world examples such as Netflix, IBM, LEGO, and Adobe, we illustrate the strategies employed by these companies to navigate these barriers successfully. Central to their success is adaptability, a growth mindset, continuous skill development, and fostering open communication. The study concludes that resilience, proactivity, and a commitment to innovation are quintessential for businesses to thrive amidst challenges.
Keywords: Innovation, Regulatory challenges, Skill development, Adaptability, and Real-world examples.
Citation: Shirinzad G. (2024). Strategies for overcoming barriers to innovation and growth, Can. J. Bus. Inf. Stud., 6(1), 1-9. https://doi.org/10.34104/cjbis.024.0109
