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Episode 15: Driving Innovation: Part 1

Exponential Wisdom

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How to Incentivize Innovation in Your Organization

More innovation you can have distributed throughout an organization the more innovative the organization is. It's not just actual innovations that end up in commercials and advertisements it's the entire essence of what you're doing in the marketplace as a company. The 555 plan team of five people given it could be five days if you want or five weeks could be five thousand dollars five hundred dollars to really come up with something brilliant. This incentivize risk taking and tell them if it's just a little incremental improvement over what we're already doing it's not going to win so you got to really try something crazy idea  and actually get some evidence that your crazy idea has value.

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