Thursday, December 17, 2009

Affordable innovation

Often when we think of innovation, we imagine investing (and risking) copious amounts of time, money, and energy. According to the MIT Sloan Management review, however, technology has "lowered the price of failure," making it possible to challenge the status quo, experiment, and develop innovation - all "on the cheap" and at warp speed.

"Technology is transforming innovation at its core, allowing companies to test new ideas at speeds—and prices—that were unimaginable even a decade ago... Where will all this lead? Experiments will become far more pervasive and persuasive as information technology improves and testing grows faster and cheaper."

Read the article here.

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