From the course: Balancing Innovation and Risk
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How top innovators manage risk
From the course: Balancing Innovation and Risk
How top innovators manage risk
- Organizations like Pixar, Tesla, and Novartis are constantly taking innovation risks, but their leaders have found ways to encourage and manage that risk better than the competition. When you look closer at these companies, you'll see a few common methods for their creative madness. For instance, innovative companies aren't afraid to hire risk-takers. Automaker, Tesla, actually looks for candidates who have a reputation for upsetting the status quo. Also, when Pixar staffed the film, "The Incredibles," the director, Brad Bird, sought out animators who were known as black sheep. He knew that the rule breakers would bring a fresh perspective to the project and Pixar was rewarded when the film took home a pair of Oscars in 2005. Borrowing Pixar and Tesla's approach to hiring can help increase your company's risk tolerance. Innovative companies also leverage technology to improve their innovation process. Pharmaceutical…
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