Tag Archives: risk

The Three R’s of Innovation – Risk, Reward, and Resources

The Three Rs of Innovation – Risk, Reward, and Resources

Is it innovation or continuous improvement or is it innovation? Is it regular innovation or disruptive innovation? Is it new enough or too new? These questions are worse than meaningless as they suck emotional energy from the organization and divert emotional energy from the business objective. With every initiative, there are risks, rewards, and resources. Risk generally tracks with newness, ...

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The Biggest Risk You’ll Ever Take

Hint: It’s not what you think it is. Are you a gambler? The answer might surprise you. Risk is part of being an entrepreneur. You are accustomed to taking risks, otherwise you wouldn’t be contemplating or running your own business, right? Well, perhaps, but it has to do with how you define risk and where you see its origins. My ...

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Lego’s Innovation Lessons

Lego's Innovation Lessons - Innovation Excellence

In strange and disappointing news, Lego announced that it was facing dire sales projections, with growth slowing from over 25% per year to low single digits. Strange, when just a few years ago Lego was on top of the world, with great new toys, Lego kits, Lego Robots and the Lego movies.

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How Behavioral Design Can Help De-Risk Innovation

Everyone who works in innovation will regularly hear clients asking about how to “de-risk” innovation. In a world where consumers have more choice than ever before, how can we provide an increased sense of confidence about the solutions we deliver? While no solution is ever a sure thing, behavioral economics can help. It is increasingly used by companies across industries ...

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Innovation in the IT Legacy World

“Legacy” seems to be a “bad” word in the business world, and it tends to denote antiquated; methods, software, hardware, etc. Yes, I refer here to many IT Systems that drive businesses. But many “legacy” applications that keep dominating the IT Business world—are Mainframe and Mid-range based. They still manage the bulk of the business transactions. Some popular applications are ...

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