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Innovation’s Accidental Enemies

by on January 24, 2010

The article’s link:http://www.businessweek.com/magazine/content/10_04/b4164080555772.htm

At the beginning of this article, the author referred to a short story to demonstrate the dilemma about how  a bank CEO dealt with the risky innovation. Because the CEO was too cautious to make change, the bank was beaten by his rival. 

Then the author mentioned two methods to prove the feasibility of  new idea:deductive and inductive. However, if every new idea demands evidence, it will drive innovation away. Then the author came up with a new kind of logic: abductive.

Nurturing  the ideas that result, rather than killing them, can be the tricky part. However, the CEO should use this to leverage the effort to produce the evidence to explore adventurous business.

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3 Comments
  1. Jordan Eschler permalink

    Wow, great find! Getting nervous about innovation is obviously not limited to banking – but banking’s a pretty conservative industry. I would argue that the abductive thinking is a great leap already, and it takes a special person to lead a change management team through a radical change process. I know at a large, national bank where I worked Six Sigma processes were mapped onto any proposed innovation for operations; it gave the execs some comfort about the outcome.

    Not to mention, selling any radical new vision (and getting funding to make that vision happen) can be downright exhausting – it’s a full-time job!

  2. This article has presented with a good tactic, abductive thinking. However, overall, innovation relies too much on personal judegement. I don’t blame CEO for killing innovative ideas sometimes. They have their own limitation, so i don’t think it is possible for them to make a good judgement every time. No matter how well the method is, innovation would still remain tricky for the managers.

  3. I think evaluate an idea should come before killing it. Some good ideas come from the wild creative ideation process. But if CEO kills them on spot and only leave some doable ideas, then the pace of the innovation will be small. CEOs should selecting a right idea from a pool of wild crazy ideas so that the company can make a huge step of innovation.

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