Professor Murmann's Blog: Jeff Bezos on how to build organizations for innovation

Jeff Bezos on how to build organizations for innovation

Here are Bezos thoughts on n how to build organizations for innovation:

A willingness to fail and to be misunderstood “then what you can do is you can ramp up your rate of experimentation”. “So successful inventions [are] inventions that customers care about. It’s actually relatively easy to invent things that customers don’t care about, but successful invention, if you want to do a lot of that, you basically have to increase your rate of experimentation.

“And that you can think of as a process: how do you go about organising your systems, your people, all of your assets, your own daily life and how you spend time, how do you organise those things to increase your rate of experimentation because not all of your experiments are going to work.”

Bezos advice for aspiring entrepreneurs is “never chase the hot thing”. “That’s like trying to catch the wave, and you’ll never catch it. You need to position yourself and wait for the wave.”

From CIO Magazine