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Wednesday, May 09, 2007

Innovation Demystified

Tom Peters demystfies the hard path to be taken to stay innovative. In this brief YouTube clip, the legendary management guru Tom Peters says that the business of innovation is actually easier than what it is assumed to be. His formula for fostering innovation : "Hang out with weird, and thou shalt become more weird... Hang out with dull, and thou shalt become more dull..." It's as simple as that - the best chance for a business to succeed is to hang out with "rogue employees, disgruntled customers, off-the-scope competitors and fringe suppliers”, a reference taken from the book –“wide angle vision”. Tom further points out that benchmarking is an inappropriate step(if done within the industry, if I may add) – he again quotes Seth Godin’s – “The thing that all these companies have in common is that they have nothing in common. They are outliers. They’re on the fringes. Superfast or superslow. Very exclusive or very cheap. Extremely big or extremely small. The reason it’s so hard to follow the leader is this: The leader is the leader precisely because he did something remarkable. And that remarkable thing is now taken—so it’s no longer remarkable when you decide to do it.” Thoughts definitley worth considering -atleast in determining who all should be steering innovation within enterprises.

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