We have all been there... all the fanfare about innovation and then... nothing happens. Good speeches about making innovation a priority and then... we end up with more processes, more meetings, less productivity and not even a trace of real innovation.
So what do we need to actually innovate??
1. Hire only extremely competent people
2. Explore the uncertain
3. Tolerate failure
4. Celebrate learning
5. Communicate expectations clearly and regularly
6. Be highly disciplined
7. Create a psychologically safe environment - it must be safe for anyone to criticize and to be criticized. Remember >> a candid organization will outperform the nice one every time!
8. Collaborate, make decisions, and own the consequences
9. Strong and flexible leadership capable of striking the delicate balance of the required experiments.
And please avoid, at all costs
A. Sloppy thinking
B. Bad work habits
C. Poor management
D. Poor excuses
Finally... believe!! Your organization can create breakthrough products, systems and services!! Work on it! Try hard! Analyse results... and then work some more until you get it!
My name is T. S. Coelho and I live in Lisbon, Portugal, with my husband and three kids. I work in the asset management industry, managing an equities fund.