How to be vulnerable without being weak | Can Nintendo reboot again? | Are you innovating or just hallucinating?
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May 8, 2013
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How to be vulnerable without being weak
Good bosses can show vulnerability, writes Joe Takash. That doesn't mean they lack a backbone or lash out, but rather they show a willingness to take real risks, ask for input and accept help. "Vulnerability is demonstrated by managers who have both the confidence and courage to make tough choices," Takash writes. Smart Business online/Chicago (5/1)
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Strategic Management
The "sunk-cost fallacy" can lead to strategic insights
The "sunk-cost fallacy," in which people throw good money rather than "waste" what they've already invested, can actually lead to smarter business decision-making, researchers say. Sunk costs serve as a reminder of the importance once attributed to a given outcome, helping people and organizations to persevere even when the reasons for doing so are obscured by more immediate pressures. That's particularly valuable after leadership transitions, when the precise logic behind a past decision isn't clear, researchers note. Kellogg Insight (5/2013)
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Can Nintendo reboot again?
Nintendo built its reputation by ignoring industry trends and coming up with quirky, innovative products and games, but that strategy isn't paying off lately, Adrian Covert writes. The company's refusal to embrace the evolution of gaming consoles into fully fledged computers or to embrace the mobile-gaming revolution have left its offerings looking dated. "You have to wonder how many free-thinking aces Nintendo has left up its sleeve in order to save itself once again," Covert writes. CNNMoney (5/7)
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Innovation and Creativity
Are you innovating or just hallucinating?
Thomas Edison once said that "vision without execution is hallucination," which is a guiding principle for Steve Case, CEO of Revolution and an AOL co-founder. "Having a good idea is not enough. You've got to figure out some way to balance that and complement that with great execution," he explains. The New York Times (tiered subscription model) (5/4)
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Don't dismiss "whackadoodle" ideas, 3M execs say
Innovation is about finding the kernel of marketable brilliance at the core of crazy-sounding ideas, say Delony Langer-Anderson and Cristin Moran of 3M. They say that at 3M, it is essential to do due diligence even on concepts they were inclined to dismiss. "We took that whackadoodle prototype ... and we dug down layer by layer to find the nugget the [inventors] were trying to show us," they explain. Front End of Innovation Blog (5/7)
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The Global Perspective
Indian exec will lead Johnny Walker parent
Diageo, the world's largest alcoholic-beverage company, has tapped Indian-born Chief Operating Officer Ivan Menezes to be its next CEO. Menezes joins a growing cohort of Indian CEOs at major multinational firms, including Anshu Jain of Deutsche Bank, Indra Nooyi of PepsiCo and Ajay Banga of MasterCard. Hindustan Times (India)/Reuters (5/7), Firstpost (India) (5/8)
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Engage. Innovate. Discuss.
Innovation lessons from Urban Outfitters and Google
Google and Urban Outfitters are disparate examples of companies that built success on finding niches that competitors weren't interested in, writes Kaihan Krippendorff. Discovering such "fourth options" requires knowing what the status quo and straightforward strategies will bring, and then asking "uncommon questions" to unlock innovation and revenue, Krippendorff writes. SmartBrief/SmartBlog on Finance (5/7)
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Daily Diversion
Conversation topics for cavemen: worms, fires and family
If you ever find yourself in a conversation with a caveman, there's a decent chance you'll be able to make yourself understood if you stick to topics such as fires and family. Researchers have found evidence that some English words -- including "fire," "ashes," and "mother" -- derive directly from phonetically similar words that were possibly in use up to 15,000 years ago. ScienceMag.org/Science Now blog (5/6)
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SmartQuote
The biggest misconception in corporate America is the thinking that vulnerability and weakness are synonymous."
-- Joe Takash, consultant, as quoted in Smart Business
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