The Innovator's Hypothesis
What is the best way for a company to innovate? Advice recommending “innovation vacations” and the luxury of failure may be wonderful for organizations with time to spend and money to waste. The Innovator’s Hypothesis addresses the innovation priorities of companies that live in the real world of limits. Michael Schrage advocates a cultural and strategic shift: small teams, collaboratively—and competitively—crafting business experiments that make top management sit up and take notice. He introduces the 5x5 framework: giving diverse teams of five people up to five days to come up with portfolios of five business experiments costing no more than $5,000 each and taking no longer than five weeks to run. Successful 5x5s, Schrage shows, make people more effective innovators, and more effective innovators mean more effective innovations.
About the Author
Michael Schrage is a Research Fellow at the MIT Sloan School of Management’s Initiative on the Digital Economy. A sought-after consultant on lightweight, high-impact innovation design, he is the author of Serious Play: How The Worlds’ Best Companies Simulate To Innovate and Who Do You Want Your Customers To Become?, as well as a popular blogger on the Harvard Business Review website.
—Dan Ariely, James B. Duke Professor of Psychology and Behavioral Economics, Duke University; author of Predictably Irrational and The Upside of Irrationality
—Andy Sieg, Managing Director, Bank of America Merrill Lynch
—Jim Manzi, Chairman, Applied Predictive Technologies
—Brad Feld, Managing Director, Foundry Group; author of Startup Communities; and coauthor of Venture Deals
—Peter Steinlauf, Chairman of the Board and “Chief Experiment Officer,” Edmunds.com
—Qi Lu, Executive Vice President, Applications & Services Group (ASG), Microsoft Corporation
—Victoria R. Montgomery-Brown, CEO, Big Think
—Rosabeth Moss Kanter, Ernest L. Arbuckle Professor of Business Administration, Harvard Business School; author of SuperCorp: How Vanguard Companies Create Innovation, Profits, Growth, and Social Good
—Seth Godin, author of The Icarus Deception
Honorable Mention, 2014 American Publishers Award for Professional and Scholarly Excellence (PROSE Award) in Business, Finance & Management, presented by the Professional and Scholarly Publishing Division of the Association of American Publishers