Innovation Requires Humility and Courage
By Edward Hess
Most public companies hit a growth wall after exhausting the strategies of cost-cutting, stock buybacks, and continuous acquisitions to generate needed earnings per share. That leaves innovation—the creation of new differentiating value propositions—as the untapped value creation avenue. Unfortunately, innovation remains a struggle for many businesses for the reasons stated in my earlier piece, “Why Is Innovation So Hard?,” and because companies can’t innovate unless their people innovate. In this piece I want to focus on what enables people to become innovators—those who, as noted psychologist Abraham Maslow stated, “do not cling to the familiar.” Read more at the U.Va. Blog on Forbes.com.
The University of Virginia Darden School of Business delivers the world’s best business education experience to prepare entrepreneurial, global and responsible leaders through its MBA, Ph.D., MSBA and Executive Education programs. Darden’s top-ranked faculty is renowned for teaching excellence and advances practical business knowledge through research. Darden was established in 1955 at the University of Virginia, a top public university founded by Thomas Jefferson in 1819 in Charlottesville, Virginia.
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Darden School of Business
University of Virginia