Risk, commitment and process

Like any great human endeavor, innovation isn’t necessarily simple or straightforward. It involves a number of forces coming together. A great innovator is an alchemist. Some of these forces are risk, commitment and process. In a conventional sense, innovation can be thought of as commercializing a creative idea. One way to mitigate risk may to run small, nimble tests alongside the more complete and robust innovation efforts to confirm/deny the risks and opportunities before things get too far down a path. Another alternative thought may be to reduce the consumer-centrism of many innovation efforts and rely more on vision or commitment to drive an idea. An idea with strong company commitment, even in the face of weak consumer feedback, may stand a better chance of success than a clear consumer opportunity with anemic support.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s