|
|||||||||
|
|||||||||
|
Seeking Initiative and Innovation? Reward Failure! by Jim McCormick “If you want to increase initiative and innovation, you have to encourage and embrace failure. A culture that punishes less-than-ideal risk-related outcomes will stifle both initiative and innovation”. Prevailing in the face of intense competition requires companies to be nimble and innovative. An innovative and high-initiative culture helps an organization respond better to market signals. It can better exploit opportunities, get new products and services to market more quickly and more often capture first-mover advantage. I had an opportunity to conduct some proprietary research recently that sheds light on how to increase innovation and initiative-taking in organizations. The Situation I was retained by the research and development operation of one of the world’s largest consumer products companies. In the past few years, they had acquired another consumer products company with some well known and highly regarded brands. The problem was that the acquired company had a risk avoidance culture in stark contrast to the acquiring company’s more risk inclined culture. The talented scientist and engineers in the R&D operation were a valued element of the acquisition. But the ingrained risk aversion within the R&D staff was resulting in insufficient innovation. My task was to help these high value team members expand their comfort zone and become more risk inclined. The Research Prior to the time spent on-site at the research labs, I conducted an anonymous on-line survey for the R&D staff. The survey addressed the following questions.
Survey Result Highlights
The great majority (61%) of those responding said they were being encouraged to take more risks. The balance, in pretty much equal proportions, said there had been no significant change in the last few years (21%) or they were being encouraged to take fewer risks (18%). Clearly, the leadership of the organization had sent the message that more risks needed to be taken. Risk Hesitancy When asked about their primary source of hesitation in taking work-related risks, almost six in ten (59%) said the implications of failure. The second most common response was provided by only 14% and centered on their perceiving a lack of permission, leadership, support or organizational capability as making them hesitant to take risks. Five percent said they had no risk hesitancy. The balance of the responses fell into many categories but focused on time and resource constraints. Risk Catalysts When asked what would make them more comfortable taking thoughtful, well-considered work-related risks, fully eight in ten said either assurances that less-than-ideal outcomes would not negatively effect their regard or career (49%) or clear direction and support from leadership to take risks (31%). Eight percent reported that they were already comfortable taking risks. As with risk hesitancy, the balance of the responses fell into a variety of categories but again focused on time and resource constraints. Insights The message of the respondents is clear. The survey data shows that the respondents were calling out for permission to take risks and a clear understanding that unsuccessful risks would not hamper their opportunities, regard or advancement. The clear conclusion is that people who take thoughtful, well-considered risks have to be lauded, regardless of the outcome of the risk. If you want to increase initiative and innovation, you have to encourage and embrace failure. A culture that punishes less-than-ideal risk-related outcomes will stifle both initiative and innovation. Action Steps Increasing initiative and innovation requires five simple steps.
Increasing the level of effective risk-taking, initiative and innovation in an organization is not a short-term process. Risk inclination and risk tolerance are core elements of an organization’s culture. It is part of what defines the organization. But it can be gradually changed by implementing the steps above, being consistent in emphasizing the importance to the organization of taking thoughtful risks and rewarding initiative and innovation. If you are questioning the value of a culture that encourages risk-taking as a path to success, consider this statement by Scott Bedbury as reported in Newsweek. Bedbury was head of advertising at Nike for seven years in the 1990s. He says the key to Nike’s success is its willingness to embrace “a culture of screw-ups. It really does learn from its mistakes.” An insightful comment about Nike – one of the most successful and innovative companies of our time. Jim McCormick is sought out by companies nationwide for his expertise on risk optimization and innovation. He draws on his engineering degree, MBA and experience as a Chief Operating Officer of an international design firm to help organizations improve performance. He is co-author of Motivational Selling, editor of 365 Daily Doses of Courage and author of the forthcoming book Seize Opportunity - A Practical Guide to Taking Advantage of Opportunities from which this article is drawn. Jim is also a three time skydiving World Record holder and was a member of an international expedition that skydived to the North Pole. Copyright 2005 Jim McCormick. All rights reserved. END | |||||||||
|
|||||||||
|
| © Copyright @ 2004 Keynote Resource Inc. All rights reserved. Permission is granted for linking to web pages within Keynote Resource To book a speaker call toll-free : 1-800-420-4155 e-mail: yvon@keynoteresource.com Privacy Policy |
Privacy Statement/Policy Keynote Resource realizes that when you complete forms on our web site you are providing us with information that is of a private nature. We assure you that we will not share or sell this information to a third party for any purpose. We treat all information provided to us as strictly confidential. |
| About KeynoteResource.com: Keynote Resource speakers bureau can help you find the ideal keynote speakers for your next event. We represent inspirational speakers, motivational speakers, corporate entertainment and more. Keynote Resource speakers bureau will find the perfect keynote speaker for your upcoming event, whether you are looking for inspirational speakers with a message, motivational speakers to set the tone of your conference or a facilitator for your annual retreat. Keynote Resource speakers bureau works closely with executives, meeting planners and training directors to create events that result in highly productive learning or are just plain fun. We can identify business speakers, inspirational speakers or motivational speakers that are well suited to your event, send you videos and press kits to help you with your speaker selection and we’ll work closely with the keynote speakers you hire to ensure they customize their presentations to meet the specific needs of your audience. We have speakers in all areas including Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington and Wisconsin. We can book speakers for you worldwide, in Canada, New Zealand, Australia, Singapore, Hong Kong, China, Ireland, England, France, Italy, Switzerland, Denmark, Sweden, Brazil and The Bahamas. Click Here to Search A Speaker Disclaimer Speaker fees are determined based on a number of factors and may change without notice. Fees may vary based on the speaker’s availability, supply and demand, program length and location of the event. Each fee range listed on this website is intended to serve as a guideline only. In some cases, the actual price quote may be above or below the fee range stated. For the most current fee, please contact your representative directly. |