Here's a couple of things i found. What else could be the reason why some companies fail to innovate.
You can either innovate or improve current stuff not both
Big companies should be able to do both, they have massive capital
Focusing on protecting a profitable existing business that becomes less relevant, see SGI, Sun, other “big iron” tech companies that were eclipsed by commodity hardware Denial (“online retail will never be bigger than brick and mortar, people want to see the goods before they buy”), see Sears Complacency (“we’re the best so nobody will beat us”), this is happening to Google right now
Not embracing new technology / platforms. Eg, Nokia sticking to Symbian OS, MSFT Office apps not making it to iOS until Satya took over.
Good point. I'm not sure if anyone uses Nokia anymore.
At least your two points are not the reason for failing to innovate. Fear and innovation doesn’t go hand in hand. For example, innovation at Amazon is because of coping of better selling products in its marketplace. So it knows already best running products and need over working resources by instilling fear (competition) among them. Also those points help with hiding worse hiring practices of the company.
Just look at your company
You are already pants down in public
I agree, same with you. Look down