Tag Archives: uncertainty

Innovating Takes Courage

Being an innovator takes courage. You are a guerrilla fighter waging war against the status quo, vested interests and corporate bureaucracy that have sophisticated defenses against intruders that seek to threaten their cash flow, culture and business models. You are fighting for the hearts and minds of patient customers ,payers, providers and non-users alike and will need to overcome your ...

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The Uncertainty Problem

Business runs on certainty.  Investors want predictable profits and will punish companies that vacillate up and down.  Managers want accountable employees who they can trust to get things done.  Customers want to deal with firms that they can be sure will be around next week. When things are uncertain, penalties are imposed. Valuations tumble, people get fired, customers flee.  That’s ...

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Innovation Risk & Return: Horizons, Uncertainty and the Teddy Bear Principle

I’ve had a couple of interesting conversations recently focused on the strategic view of innovation using the 3 Horizons framework originally proposed by McKinsey, and the assessment of risk and return from innovation. The 3 Horizons approach can be used to manage different areas of future business concurrently, albeit with different managerial approaches given the different requirements and characteristics.

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Redefining Failure

I view life as a series of experiments. When you look at it through this lens, failure means something completely different. One definition of an experiment is: “A test or investigation, especially one planned to provide evidence for or against a hypothesis.” The only way an experiment can fail is if you don’t get the evidence. Even if the evidence ...

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