I've been reading a lot lately, and at a pretty good clip. Thanks to recommendations from friends and associates, I have a growing list of interesting and relevant books to consume. The pace has been pretty healthy as well, about 10 days (or two round-trip plane rides) for each book - I was in a pretty decent groove...until my latest literary conquest. When the book arrived, I sensed immediately that it would be different - it wasn't like the other books I've been reading lately. Now, I've heard that you shouldn't judge a book by its cover - but this book had a vaguely familiar look and feel. It was a hard back, with a glossy cover - reminiscent of those overpriced books you used to carry around campus. Yes - I was about to sit down and read...a college textbook! When is the last time YOU read a college text book? I'm not even sure if I read many in college....
Why am I reading a college textbook? (and will there be an exam at the end of the quarter?) The book is titled: Corporate Entrepreneurship & Innovation. One of the authors, Donald Kuratko, will be teaching a seminar next month in Charlotte that I am attending. Slow pace aside, this book is very insightful and highly relevant. I'm sure there will be multiple blog entries inspired from its pages. Page 58 in Chapter 3 lists Sixteen Dilemmas of Innovation. A few of them really hit home (and echo conversations I have had in recent years).
Innovation Dilemma # 6 - "An innovation succeeds because it addresses customer needs. Yet when you ask customers about their needs, many do not know or can not describe them to you except in general terms."
Innovation Dilemma #13 - "Technology-driven innovation often leads to dramatic new products that prove to be 'better mousetraps' nobody wants." (or can't afford) "Customer-driven innovation often leads to minor modifications to existing products or 'me-too' products meeting a competitive brick wall."
Innovation Dilemma #16 - "Being first to market is not consistently associated with success, while being second or third is not consistently associated with failure."
There are 13 others listed in the table - these 3 just struck a bit of a chord with me. Many companies want the glory and respect associated with being an "Innovator", but most don't want the exposure to potential failed initiatives. I think the fear of failure kills innovation faster than most anything else. One company, fully understanding this concept, created a "Free to Fail" program to encourage moderate risk-taking in the name of innovation. Other examples are listed in page 178 of the text book including:
- Small cash awards given to employees who try something new and fail - and the best failure of the quarter receives a larger award.
I've often encouraged people to celebrate failure - as a way of ensuring that fear of failure does not inhibit creative thinking and action. Companies that continue to only celebrate successes while "blaming away" failures will never reach that pinnacle of innovation and corporate entrepreneurship.
When was your last failure, and how did you celebrate it?
Why am I reading a college textbook? (and will there be an exam at the end of the quarter?) The book is titled: Corporate Entrepreneurship & Innovation. One of the authors, Donald Kuratko, will be teaching a seminar next month in Charlotte that I am attending. Slow pace aside, this book is very insightful and highly relevant. I'm sure there will be multiple blog entries inspired from its pages. Page 58 in Chapter 3 lists Sixteen Dilemmas of Innovation. A few of them really hit home (and echo conversations I have had in recent years).
Innovation Dilemma # 6 - "An innovation succeeds because it addresses customer needs. Yet when you ask customers about their needs, many do not know or can not describe them to you except in general terms."
Innovation Dilemma #13 - "Technology-driven innovation often leads to dramatic new products that prove to be 'better mousetraps' nobody wants." (or can't afford) "Customer-driven innovation often leads to minor modifications to existing products or 'me-too' products meeting a competitive brick wall."
Innovation Dilemma #16 - "Being first to market is not consistently associated with success, while being second or third is not consistently associated with failure."
There are 13 others listed in the table - these 3 just struck a bit of a chord with me. Many companies want the glory and respect associated with being an "Innovator", but most don't want the exposure to potential failed initiatives. I think the fear of failure kills innovation faster than most anything else. One company, fully understanding this concept, created a "Free to Fail" program to encourage moderate risk-taking in the name of innovation. Other examples are listed in page 178 of the text book including:
- Small cash awards given to employees who try something new and fail - and the best failure of the quarter receives a larger award.
I've often encouraged people to celebrate failure - as a way of ensuring that fear of failure does not inhibit creative thinking and action. Companies that continue to only celebrate successes while "blaming away" failures will never reach that pinnacle of innovation and corporate entrepreneurship.
When was your last failure, and how did you celebrate it?
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