Dealing with failure in innovation and the Monty Hall problem

Failure when you innovate is totally acceptable. At least in books and on the internet. In real life, within your business this is a widely different story. Risk is only acceptable when you end up successful… Very successful. This usually demonstrates how poorly we manage risk…

Innovation literature is flooded with various arguments on why and how you should take risk as a company. As someone who’s depending on the success of the companies I work with (sometimes I even presume much more than their own management), I can’t avoid being one of these risk evangelist. The problem essentially is always the same. Risk is waved on principles as a good thing supported by plethoras of well-thinking weak sauce arguments. Inevitably, all these arguments are swiftly shelved when real work needs to be done.

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