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| • | Hidden tensions. Success can be elusive when it comes to innovation. About three-quarters of new product launches fail. Such failures are often blamed on bad luck, or a shortage of talent or money. But the true causes are tensions arising from dynamic work settings, according to academic research. If mismanaged, these tensions can damage organizations. For instance, leaders should know when it is better to be disciplined versus flexible. It’s often better to be disciplined when selecting the right opportunity, but executing it calls for greater flexibility. [MIT] | | | | • | Rethinking uncertainty. When early humans came across a cave, that could have meant they found a safe place to rest or, if a predator was hiding in that cave, just the opposite. To keep us alive, the brain interprets not knowing as threatening. That’s why uncertainty can feel scary. The brain’s bias for certainty is so strong that it makes up stories to provide closure. But when we prematurely fill in the blanks, we can oversimplify complex issues. Accepting uncertainty, however uncomfortable, allows us to be open to new ideas. [Quartz] | | | | • | Three fears. Innovation is critical to growth. But fear can stop experimentation in its tracks, leading to less creativity and less ambitious ideas. To learn how organizations successfully create a culture of innovation, McKinsey surveyed and interviewed executives who lead innovative projects around the world. The top three fears holding back corporate innovation were fear of criticism, fear of uncertainty, and fear of negative impact on one’s career, McKinsey research found. Yet nine out of ten companies are doing nothing to relieve these fears. | | | | • | Embolden employees. Executives at the leading innovators say that their workplaces are filled with positive energy and enthusiasm. Helping colleagues move past fear isn’t easy, but it’s necessary for companies to build a true culture of innovation. By providing employees with psychological safety, a purpose that prizes innovation, and recognition and rewards, organizations can embolden employees to be willing to risk failure. Explore five fundamentals of innovation culture and how top innovators nurture creative ambition. | | | | — Edited by Belinda Yu | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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