Tag Archives: Innovation

Innovate today, get paid tomorrow

Theoretical analysis conducted by Gustavo Manso in 2011 suggests that the optimal incentives motivating employees to innovate must include a combination of tolerance for failures in the short term and reward for success in the long. Tolerance for early failures allows … Continue reading

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Crowdsourcing “in reverse”: asking crowds to ask questions

It’s important to understand that crowdsourcing is first and foremost a question, a question that you ask a large and, ideally, diversified crowd of people. And for as long as it’s well-thought-out, properly defined, and clearly articulated, it doesn’t really matter … Continue reading

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Crowdsourcing 2.0

I like to argue, only half-jokingly, that crowdsourcing is very simple. It consists of only two components: a question and a crowd—a question that you present to a crowd and a crowd that you assemble to answer this question. And … Continue reading

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Are you innovating? We won’t be paying you today!

A solid body of evidence, from both controlled laboratory experiments and field studies, shows that compensation based on the pay-for-performance (P-f-P) principle—when individuals receive a fixed percentage of the profits resulted from their activities–is effective in inducing higher levels of … Continue reading

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One more time about “innovation terminology”

In a recent HBR article, Scott Kirsner suggests ditching the term “corporate entrepreneur.” Kirsner names a number of reasons why corporate innovation, especially in large firms, is different from true entrepreneurship. One is bureaucratic shackles that restrict the development of … Continue reading

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Freedom to fail, freedom to innovate

(This post originally appeared on InnovationManagement.se) Everyone seems to agree that innovation is a risky business: it involves a lot of experimentation, which often ends up in failure. High tolerance for failure, therefore, can be considered as a major prerequisite for … Continue reading

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Innovation and VC investors

Academic research provides abundant empirical evidence suggesting that corporate and socio-economic policies tolerating failure, both at individual and firm levels, foster innovation. For example, labor laws limiting firms’ ability to discharge employees at will were shown to stimulate corporate innovation. … Continue reading

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