Want to increase innovation? Lower the cost of failure.
Interpretation
Encouraging innovation involves making it easier to take risks without severe consequences.
Joichi Itoβs quote emphasizes that for innovation to flourish, organizations and individuals must create an environment where failure is not feared but rather accepted as a part of the creative process. By lowering the cost of failure, more people will be willing to experiment and push boundaries, leading to greater advancements and discoveries.
In practice
In a business meeting discussing new project proposals, this quote can encourage team members to take creative risks.
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