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Back to BlogNO RISK.. NO INNOVATION
Best Business Book explored in CustomerThink Interview
An Interview on Innovation There are very few companies that are able to successfully bring new, profitable products to market. Companies that are able to achieve this – and do so on a regular basis – are usually the ones that end up on the “most innovative” lists we see on Forbes, Fortune, and the…
Read MoreNo Risk = No Innovation, and the “Get out of Jail” card
The global business strategists, Boston Consulting Group report that risk aversion is the number one barrier to innovation. Ray Kroc, the founder of McDonald’s Corporation was a bit more succinct in his thoughts on taking risks: “If you’re not a risk taker, you should get the hell out of business.” Risk is fundamental…
Read MoreNo Risk… No Innovation Tips
Here are some simple steps for encouraging initiative and Innovation: 1. Profiles in Risk: Clearly communicate the risk profile you are asking your people to adopt and state why it is important to the organization’s success. 2. Failure Management: Never allow an unsuccessful risk to hamper a team member’s opportunities and advancement. 3. Key Learnings…
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