Open Access

Kerem Erarslan

• In today’s fast-changing world, innovation is essential for staying competitive and makes it very important to understand what leads to the success or failure of innovations. This thesis examines the question: “How can lessons from failed innovations be used to improve organizational strategies and boost future innovation success?”. With the help of a comprehensive analysis of case studies involving mainly failed innovations, this study identifies the key lessons that companies learn from past failures. Using a solid theoretical framework, including the innovation matrix and innovation management success factors, the study highlights the importance of organizational learning, the importance of corporate identity, adaptability and strategic alignment. The results of this paper show that companies can improve their innovation strategies by analyzing failures in a systematic way, embracing a culture of defensibility and implementing structured processes for regular improvement. The results also show that a company’s own corporate identity, combined with the loyalty of its customers, can sometimes be of great value. The study contributes to innovation management by providing actionable recommendations for innovators trying to manage the complexity of innovation in a fast-changing environment. Finally, the insights gained from this study emphasize the value of learning from mistakes as a path to sustainable innovation success.