Management

Innovate like Famous Explorers

"Men wanted for hazardous journey... Honour and recognition in case of success." This advertisement ran in a London newspaper in 1913. Could you have imagined answering it? If you did, you are a real innovator. Besides you, over 1000 men did. Innovation nowadays has so many similarities with voyages of discovery in the past.

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Mistakes versus Experiments

One of the reasons that people try to avoid failing is that it seems like they’ve screwed up if they fail. This can certainly be the case, if your failure is major. But if you set up experiments to test ideas out, and you learn from them, then failing can be very productive.

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Where's Your Innovation Friction?

How should firms develop the organizational structure, culture, and incentives (e.g., for teams) to encourage successful innovation? When it comes to creating an innovation culture, often people make it far too complicated. If you're part of the senior leadership team and you're serious about innovation then your job is simple - reduce friction. If you're serious about innovation and you're not a senior leader, then your job is to do what you can to convince senior leadership that innovation is important. Then, gently help your execs see the areas of greatest friction in your organization so they can do something about it.

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Reflecting On Independence

Independence for a country is about choice. A country wants to be able to make choices to better itself, to control its own destiny. A country wants to feel like it has freedom to do what it thinks is right. Hopefully, a country thinks it’s a good to provide for its citizens in a long term sense.

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Five Ways to Commit Innovation Suicide

Customers change. Competitors change. Technology changes. If you don’t do anything, new and competitive products catch up and overtake your products and services quickly. A study by A.D. Little has shown that the life cycle of products has decreased by factor 4 the last fifty years. So innovation is essential.

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