The Opportunity Costs Of Not Innovating
By Jeffrey Phillips
Innovation Excellence
February 21, 2012
Big Idea: Managers are trained to ask “what’s the cost” when considering a new innovation, but rarely if ever ask “what’s the size of the opportunity we miss if we avoid innovating”. As a manager or executive, you must consider not only the short term costs of innovation, but also the longer term implications if you don’t innovate.