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Sustaining Innovation June 19, 2006

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Loved the article ‘Growth as a Process‘ in the latest HBR (June 2006) interviewing Jeff Immelt on his well publicised aim to organically grow two to three times faster than world GDP

In particular I love the aspect on innovation, its importance in growth and some great ideas on risk mitigation.

Taking the excellent approaches of rapid prototyping / prototype in a day Jeff translates this well into what it means to him.

He’s right on the money indicating such approaches are risk mitigation, its not brainstorming its a way of measuring risk and understanding whether and idea has a suitable risk profile.

In this approach you can pull together a crop of ideas with delivery approaches that mitigate risk allowing more ideas to be invested in.