Visionary companies do not only try to see into the future – they create the future. The history of innovation is scattered with examples of misjudgments regarding the dynamics of new technology. Less than two years before Polaroid’s bankruptcy, Morgan Stanley made the following statement: “We are upgrading Polaroid to Outperform from Neutral based on the company’s new product performance…
How does your company deal with mistakes? If continuous learning from your employees, innovation and even breakthrough innovation are important to you, it is critical you embrace mistakes, at least as sources for learning and invention.
Accelerating change and complexity has resulted in ever greater demands on the individual's time and energy. To succeed today requires a balance of creative and pragmatic skills, explains creativity expert and author Michael Gelb.
Make sure your internal innovation capabilities and processes are in order before you open up your idea and innovation strategy to the world.