…The cycle of creative destruction is a constant. Companies grow complacent, success turns into atrophy, some disappear, some are gobbled up as fixer upper in an opportunistic play. Upstarts appear and thrive, former leaders fall behind. In the Wild West of finance, the top gun is constantly in the street defending turf and reputation against the latest gunslinger to ride into town.
In a June 2016 posting, Ramón Salinas, an innovation expert at the consulting firm Imaginatik, wrote, “Why Real Mistakes Lead to Bigger Innovations,” noting, “Executive decision-making often makes or breaks innovation success.” True innovators are willing to “‘fail fast, fail often’ with a bias toward quick experimentation and action.” Says Salinas, “Most senior managers must follow a more rigid, risk-averse decision making rubric.”
August 23rd, 2017
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