Archive for June, 2013

Reframe Failure As Intentional Iteration

June 28th, 2013

betterplaceThe key to unlocking the next wave of economic growth may be as simple as enabling more people to try more stuff.  The industrial era was all about scale and squeezing out the possibility of mistakes. As a result we are too afraid to fail. Companies only take on projects with highly predictable results. Employees fall in line for fear of making career-limiting moves. How will we get better if the fear of failure prevents us from trying anything new? How will we make progress on the big system challenges of our time, if every time someone tries something transformational and fails, we vilify them? What if we reframed failure as intentional iteration?

Take the example of Better Place, the startup that set out to create a world full of electric cars with a novel battery swapping business model. In my book, The Business Model Innovation Factory, I highlight Better Place and its founder Shai Agassi as one of the best examples of business model innovation and the importance of a real world test bed.   Read more

Innovation: In The Boardroom

June 26th, 2013

images (37)I had the pleasure of speaking at the 2013 Amplify Festival in Australia.  Now that my jetlag has subsided I’m able to reflect on what was a wonderful event hosted by AMP, a leading financial services company in Australia.  Congratulations to AMP and Annalie Killian, the festival’s remarkable curator, for catalyzing a week overflowing with inspiration and insight. More companies should consider hosting similar innovation immersion events open to employees and the local community.  It was an easy invitation to accept for this innovation junkie. They had me at the event’s theme, Shift Happened Transformation Required!

One of the highlights of my trip down under was meeting Lucy Marcus, provocateur and global expert on corporate governance best practices. Lucy is a force of nature in and out of the boardroom and I thoroughly enjoyed our conversations on the oversight role of the board of directors for a company’s innovation agenda.  We agreed that the board of directors has an important role to play and Lucy asked me to appear on her ‘In The Boardroom’ show on Reuters TV to share my top five board innovation imperatives for the board. The short video of our conversation below also serves as proof that we actually were in Australia. Check out the Sydney Harbor in the background! 

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