#67 Jim Collins: Keeping the Flywheel in Motion
The Knowledge Project with Shane Parrish
Navigating Innovation: Bullets, Cannonballs, and Leadership Risks
This chapter examines the strategic distinction between incremental innovations (bullets) and major investments (cannonballs) in business. It discusses how leaders' incentives can lead to uncalibrated risks, and introduces 'productive paranoia' as a means to sustain success. By outlining the stages of corporate decline, the chapter warns against overconfidence and undisciplined growth, emphasizing the crucial balance between innovation and risk management.
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