High failure rates, in our experience, are often correlated with inattention to assumptions, which underlie all innovation initiatives. Companies often confuse assertions with assumptions, stating confidently what “should be true” for an innovation concept (for example, the price premium that customers will pay) instead of acknowledging that it is merely a strong hypothesis that needs to be validated. We therefore encourage management teams to place … [ Read more ]
Content: Quotation | Authors: Brian Quinn, Daniel Cohen, Erik Roth | Source: McKinsey Quarterly | Subject: Innovation
To catalyze breakthrough growth, leaders must set bold aspirations, make tough choices, and mobilize resources at scale.
Content: Article | Authors: Brian Quinn, Daniel Cohen, Erik Roth | Source: McKinsey Quarterly | Subject: Innovation
One asset that a lot of large organizations have is the history they have in the category. As much as that can sometimes lead to conventional wisdom and stale thinking setting in, it also can be this enormous treasure trove of actually having tracked what worked. What didn’t work? Why didn’t it work? If those organizations could get more disciplined around postmortems and tracking that … [ Read more ]
Content: Quotation | Author: Brian Quinn | Source: McKinsey Quarterly | Subjects: Management, Organizational Behavior
I see this dichotomy of conflict between what companies think of as their organic or internal innovation engine and their external innovation engine. As opposed to seeing that as all part of one seamless system where at every step I may have the initial inkling of the opportunity. I’ve identified this very valuable problem. I’ve got an initial concept. The first scan should be, actually … [ Read more ]
Content: Quotation | Author: Brian Quinn | Source: McKinsey Quarterly | Subject: Innovation