Corporate innovation initiatives are top of mind for executives – but often slowed due to long decision processes and planning. Innovation is about trying something and being willing to suffer the string of failed experiments necessary to get to success.
Silicon Valley style mindset is about action but for a large company this needs to be balanced with corporate governance and ability to deal with risk.
Amazon for example recognizes there are two different types of decisions, Type 1 and Type 2.
Some (Type 1) decisions that involve cross-team reorganization, long term investments, public announcements can be hard to change. These are made carefully. Type 2 decisions, such as allocating resources to test a new message, exploration of a new potential market, a pricing / packaging promotion, a collaboration on new product development can easily be reversed and are made quickly at department levels.
Consider what types of decisions your organization is making . When you know you can reverse the outcome if you don’t like it, don’t get too mired in details and projections. Take action #innovation #leadership #disruptivetechnologies #businesstransformation
