The Innovator's Hypothesis: How Cheap Experiments Are Worth More than Good Ideas (MIT Press)
| Author | : | |
| Rating | : | 4.86 (684 Votes) |
| Asin | : | B00NOC852G |
| Format Type | : | |
| Number of Pages | : | 117 Pages |
| Publish Date | : | 2015-12-29 |
| Language | : | English |
DESCRIPTION:
A sought-after consultant on business innovation, he is the author of Serious Play: How the World's Best Companies Simulate to Innovate and What Do You Want Your Customers to Become? . Michael Schrage is a Research Fellow at the Center for Digital Business at MIT Sloan School of Management
The Innovator's Hypothesis addresses the innovation priorities of companies that live in the real world of limits. What is the best way for a company to innovate? Advice recommending "innovation vacations" and the luxury of failure may be wonderful for organizations with time to spend and money to waste. He introduces the 5x5 framework: giving diverse teams of five people up to five days to come up with portfolios of five business experiments costing no more than $5,000 each and taking no longer than five weeks to run. Michael Schrage advocates a cultural and strategic shi
"Interesting read" according to K. R.. I found this book to be an interesting read. I have to say I started reading it with some preconceived ideas of why this experimenting would not work. Surprisingly the author addressed those concerns (and some I hadn't even thought of). I wanted to read this more out of intellectual curiosity than as something that I might take a part of. I'm way too far down the corporate ladder for that, but still this might be a book that I can recommend to someone near the top of mine.If I was to make a complaint about this book, it would be toward the first cha. "Innovate quickly with Cheap Experiments, but take the proposed "solution" with a grain of salt (has not been experimented with)" according to Ron Kohavi. My team provides the experimentation platform for most online experiments at Microsoft (e.g., search for exp-platform), and I have been running online experiments for 12 years now, with Bing running about 10,000 experiments per year, so I know something about online controlled experiments. Michael Schrage quotes me a few times in the book, and encouraged me to write an unbiased review.The book is written extremely well, and the overall message is absolutely spot on: most organizations would benefit from running cheap experiments and iterating quickl. Great case for creating a business culture of small experiments. I read this to learn about how to make use of small experiments to gain insight and find things that could and should be scaled up.It's aimed primarily at large organizations, but I think this approach and mindset would be incredibly valuable for small businesses, non profits and even freelancers. If there's a follow up I'd love to see stories and tips for using this approach within smaller orgs.
The core essence of this book is a must-read for anyone seeking to accelerate the pace of innovation. (Brad Feld, Managing Director, Foundry Group; author of Startup Communities; and coauthor of Venture Deals)Most books on innovation fail to deliver practical guidance that a business can execute immediately. Montgomery-Brown, CEO, Big Think)The Innovator's Hypothesis is a brilliant breakthrough of a book that includes the first fresh thinking on innovation in years. The Innovator's Hypothesis isn't one of them. Michael Schrage's 5x5 framework has helped us instill and sustain a true ethos of experimentation in our organization. (Jim Manzi, Chairman, Applied Predictive Technologies)If you, like me, believe that ideas are worthless in the context of innovation, this is the book for you. In The Innovator's Hypothesis<