Fostering Innovation

Padgaonkar, Abhay
May 2007
Leadership Excellence;May2007, Vol. 24 Issue 5, p15
The article focuses on making mistakes in innovation. It is said that innovation fosters fearlessness and leaders must eliminate fear by accepting that experimentation will result to errors and mistakes are learning experiences. It is stated that executives need to make deliberate mistakes when the potential gain outweighs the cost, the same decision is made repeatedly, the competitive environment has changed or when there are various solutions to a complex problem.


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