3 Company Failures Unexpectedly Saved Businesses Made More Innovative

3 Company Failures Unexpectedly Saved Businesses Made More Innovative

A company's failures can often pave the way for success. It's important to learn from these failures and rework products accordingly. For example, Bubble Wrap experienced multiple iterations of failure before finding success by partnering with IBM. IBM had to listen to customers' feedback in order to realign their purpose and get back on track. And Dyson Vacuums founder, James Dyson, understood that product perfection comes from continuous reworking and learning from failures. These case studies teach us to embrace new ideas and products, and to think outside of the box in order to succeed.

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More Innovation Resources:

The Innovator’s Dilemma: Lessons from Kodak

The Innovator’s Dilemma: Lessons from Kodak

Kodak's downfall due to digital photography is not about failing to recognize a disruptive technology, but about the "innovator's dilemma": the difficulty in evaluating the innovation's true value and creating something new instead of adapting to existing structures.

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Where Does Innovation Happen? It’s Not Where You Think

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How to Launch Your Innovation Program? - 12 Steps Guide

Launching a successful innovation program requires understanding the current state, aligning with business strategy, piloting with enthusiastic units, seeking commitment from managers, integrating into existing models, creating motivation to participate, planning, leading by example, making decisions, communicating, and monitoring and developing.

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