The Innovators Hypothesis, Michael Schrage
The Innovators Hypothesis, Michael Schrage
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The Innovator's Hypothesis
How Cheap Experiments Are Worth More than Good Ideas

Author: Michael Schrage

Narrator: Walter Dixon

Unabridged: 6 hr 58 min

Format: Digital Audiobook Download

Publisher: Ascent Audio

Published: 10/01/2015


Synopsis

What is the best way for a company to innovate? That's exactly the wrong question. The better question: How can organizations get the maximum possible value from their innovation investments? Advice recommending "innovation vacations" and the luxury of failure may be wonderful for organizations with time to spend and money to waste. But this book addresses the innovation priorities of companies that live in the real world of limits. They want fast, frugal, and high impact innovations. They don't just seek superior innovation, they want superior innovators.

In The Innovator's Hypothesis, innovation expert 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. Creativity within constraints -- clear deadlines and clear deliverables -- is what serious innovation cultures do. Schrage 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. The book describes multiple portfolios of 5X5 experiments drawn from Schrage's advisory work and innovation workshops worldwide. These include financial service approaches for improving customer service and addressing security challenges; a pharmaceutical company's hypotheses for boosting regulatory compliance; and a diaper divisions' efforts to give babies and parents alike better "diapering experiences" with glow-in-the-dark adhesives, diagnostic capability, and bundled wipes.

Schrage's 5X5 is enterprise innovation gone viral: Successful 5X5s make people more effective innovators, and more effective innovators mean more effective innovations.

Reviews

Goodreads review by Jay

Schrage suggests using a methodology of doing many quick and cheap experiments to generate innovative behaviors. I was greatly confused in the beginning, but Schrage uses an example of an obvious good idea – eat less and exercise more to lose weight – and suggests that there are plenty of other good......more

Goodreads review by Jose

Schage book is good, but he focus a lot in explaining why experiments are good and the best way do create innovation. For new people learning about innovation it's good. For experienced people and who knows a lot about design thinking and jobs to be done literature the book is good in Part III. Ther......more

Goodreads review by Said

This is a very useful book on innovation. However it is not complete as it presumes you - the reader - understands what innovation is. Incidentally I had course that focused on innovation and hence was able to relate this approach to innovation and put it in context. The approach, called the 5x5x5,......more

Goodreads review by Scott

Empiricism and the scientific method have had some positive impact on the practice of business. Most people recognize the market as a great external object of study, yet scientific impact on innovation is usually limited and relegated to the domain of hunches by analytic experts. For their part, bus......more