Innovation Lessons: Why Amazon Is Crushing The Innovation Game

Innovation Lessons: Why Amazon Is Crushing The Innovation Game

Amazon’s success in innovation lies in its customer obsession, failure as an asset mindset, and diversity-driven innovation. Amazon’s leadership principle of working backward takes the cue from the customer to visualize an objective and describe it unambiguously. Failures are seen as experiments, and everything documented to avoid repeating the same mistake twice. Variety in Amazon’s sectors leads to a variety of career possibilities, bringing diversity of thought and new ideas to the table. Amazon is also revolutionizing the combination of digital and physical experience in stores with Amazon GO, a store concept using technologies like computer vision, deep learning algorithms, and sensor fusion. The secret to Amazon’s success is staying focused on customers, embracing failures, and diversity-driven innovation.

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More Innovation Resources:

Striking a balance between structure, creativity and innovation

Innovation requires a balance between spontaneity and structure. Creativity needs no structure, but innovation must have a curation system. A structured innovation process should eventually become part of workplace culture.

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What is a good customer insight?

Crafting a powerful insight when developing ideas takes effort and time. To ensure true insights, focus on customers and avoid reverse benefits.

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Should Any Innovation Be Nationally Structured?

Innovation should not be confined within national borders as it needs to go where it is needed, and social issues are often fluid and can't be contained. National measurements only capture a given part of activities within a geographical area, missing out on cross-border flows that make up higher value points.

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