culture

Innovation is Creativity x Risk Taking

Innovation is impossible to achieve without taking a necessary amount of risk. In a world where the success rate of new product entries in the grocery business is 1 in 100, it is inevitable that every success sees failures along the way. An effective innovation leader should encourage creativity and risk taking, while also practicing a tolerance for failure.

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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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Do you have an Anti-Creativity Checklist?

In order to build a culture capable of encouraging innovation or creativity (or both), you must first do an inventory of the psychology and mental models in play in your organization. One great way to do this would be to build an 'anti-innovation checklist' or an 'anti-creativity checklist'. If you start watching the vocabulary that people use in meetings where ideas are being discussed, the behavior of senior leadership as it relates to these areas, and most importantly - how people respond - you'll get a better sense of where your organizational challenges lie with respect to innovation and creativity. Wouldn't that make such an exercise of great value to an organization?

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