3. Fail fast and thrive
Every organisation has three crucial resources: Time, Money, Energy. These are in demand during days of strong growth, and even more so when growth slows and focus switches from investment to cuts. For innovation initiatives to thrive in this environment, we need to ensure there are relevant time-boxed, stage-gated criteria so that commercially viable ideas can be accelerated quickly, and non-viable ideas killed faster. This helps maximise these three critical resources to help move the needle.