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TEDxBayArea - August 2011 - Michael Raynor - Innovation: Minimizing failure or maximizing success?

Innovation: Minimizing failure or maximizing success? For too long, our pursuit of successful innovation has often focused on minimizing failure. We think of a successful innovation as a needle-in-a-haystack quest. Because we typically don't know how to increase the odds of success, we seek to "fail fast," be "lean," and "iterate." We can do better. In a series of experiments using a portfolio of 48 businesses funded by a high-tech company's new business arm, Michael Raynor of Deloitte Consulting LLP shows that Disruption Theory can increase predictive accuracy by up to 50 percent, in his new book The Innovator's Manifesto. The implication is that it is possible to identify winning ideas at the earliest stages of development and shape them in ways that can increase the likelihood of long-term survival. Raynor will describe his research, explain how Disruption can enable more accurate prediction, and outline the implications for how we can manage innovation to take advantage of these insights. Bio Dr. Michael E. Raynor is a Director with Deloitte Consulting LLP. He works with senior executives in the world's leading corporations across a wide range of industries. He is the author of two bestselling and critically acclaimed books, The Innovator's Solution, co-authored with Clayton M. Christensen, and The Strategy Paradox. His third book, the forthcoming The Innovator's Manifesto, demonstrates that the careful application of the right theory improves overall innovation success rates. Michael lectures widely, delivering over 100 major presentations and workshops around the world each year. He is a columnist for The Conference Board Review, and publishes in leading magazines and scholarly journals. Dr. Raynor holds a DBA in General Management from the Harvard Business School, an MBA from the Ivey Business School in London, Canada, and a Philosophy degree from Harvard University. He lives in Mississauga, Canada.
Length: 18:00

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