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Category: Behavioral Economics, Innovation
Imagine your company has 20 innovation projects, where each project has an equal chance of 50% to succeed and fail. The success of each project is independent from the others. If a project fails, your company will lose $500,000, if a project succeeds your company will make $1.5m. Then ask a team of 20 managers …
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Category: Culture, Innovation
Aug 12
Jim Carrey’s character from the 2008 Yes Man-movie humorously depicts the life of bank loan manager Carl Allen, who’s lost in a spiral of negative attitude until a self-help seminar turns him around. To every suggestion he starts responding with a positive “Yes“, helping him meeting new people, learning a new language, picking up new …
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Category: Innovation
A joke that I recently found again somehow describes the situation when you try to get ahead with ideas. Before we dive in, lets first look at the joke: There were a bunch of prisoners hanging around one day…when one suddenly says, “32”, and everyone laughs. A couple of minutes later another prisoner says, “19” …
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Category: Behavioral Economics, Innovation
Companies want innovation but do everything to stop it from happening. This paradox is one that puzzles everyone. We desire it so much for us and admire companies that are innovative, but our actions do the exact opposite. Why is that so? Behavioral Economist Richard Thaler gives some clues in his new book Misbehaving through …
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Category: Innovation, Intrapreneurship, R&D
Europe’s success with innovation has paled in comparison to what the Silicon Valley or even Asia is churning out. A recent Washington Post article states in the headline (and with many facts) that Europe’s innovation deficit isn’t disappearing any time soon. According to an annual report on Internet trends from Kleiner Perkins partner Mary Meeker, …
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