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wrote on the Certified Members: CPI - Design Thinking wall: Here is an interesting viewpoint on using failure in your innovation efforts. Survival of the Innovators How Failure Can Keep Your Company Alive By Shane Landry Survival in the modern economy can feel like being on the wrong end of a hunting safari during a drought. To stay alive, many companies have become increasingly averse to risk for fear of failure. The focus is on cost cutting, but saving money has a steep price. The cycle of downsizing and transferring the workload onto the remaining employees increases stress and decreases efficiency. Employees watch how new ideas, which contain an inherent amount of risk, get shot down with terrifying regularity. They stop trying to promote them. Communication dries up. Innovation withers and dies. The culture of innovation, however, is different. Innovative culture embraces failure and promotes open mindedness towards new ideas. This keeps the river of communication flowing. When new ideas are being explored, a bunch of them just don’t work out. This leads to a lot of failure. But failure is a skill. It has to be practiced, and with that practice, comes several key attributes that can help a company survive in the harsh environment of today’s economy. Failure makes you tough. Too often, I have watched an individual with an immaculate track record fail for the first time in their lives and fall to pieces. Meanwhile, someone with an imperfect but battle-scarred resume can take failure in stride and soldier on. That ability to take a hit and keep pushing forward is critical for companies that want to stay in the game. Failure makes you adaptable. When the first idea fails, the innovative team learns from it and tries something new. Again and again, always adapting, because for them, failure’s just part of the job. It becomes so ingrained they do it reflexively. Which is exactly the kind of characteristic you want when the future looks unstable and no one is sure what’s going to come charging out of the tall grasses next. When a new opportunity presents itself, competition will be fierce. The adaptable team is quick to pounce and make the most of it. The art of failure conditions them to ask good questions, get up to speed on a new subject quickly, set up a plan, and take action. Innovators don’t need to wait around for an opportunity to meander by the watering hole. They create new opportunities by exploring new paths. Yes, there is risk involved. But there is also risk in waiting around for the next meal to come to you. Failure brings you together. Every time a group fails, they have an opportunity to learn about each other. Strengths, weaknesses, limits. Then they can push those qualities, and through pushing, grow together. An innovative team has seen each other at their best and worst and come through it. That kind of pack will survive where the lone wolves out for themselves will not. What do you think? Is innovation the key to company survival, or would you suggest another tactic?
Posted Monday, September 19, 2016
wrote on the Certified Members: CPI - Design Thinking wall:
Posted Friday, September 16, 2016
wrote on the Certified Members: CPI - Design Thinking wall:
Posted Friday, September 16, 2016

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