What holds innovation back?

Rita Gunther McGrath launches into this in an interview. Pretty short and interesting. I am most interested in her idea of “innovation training”. We will work here in Tartu to develop an innovation curriculum. Stay tuned on that!

One interesting tidbit. Only around 11% of polled managers say that they are in a high growth sector of the economy. An equal number report that their sector is rapidly declining. That means only 22% are living with rapid change now. 78% do not have this experience. This is one reason why firms do not innovate as fast as they would like — they do not have the experience of needing it.

Another tidbit – the assumption to knowledge ratio. Rita argues that many managers value knowledge highly (that is they like operating in a low assumption to knowledge environment). But innovation requires a high assumption to knowledge ratio.  Very interesting — so how good are you at seeing the assumptions that underlay what you are doing?

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