Make it easy to fail: Innovation teams today can leverage technology to enable simultaneous micro experiments, reducing the financial cost of failure. The professional cost of failure, however, needs to be addressed. A failed attempt at developing a product or business model should also be rewarded if the learning can help others succeed.
“Create an ecosystem that encourages innovation at multiple levels”
Rishad Premji, chief strategy officer, Wipro on five ways to foster a culture of innovation
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