Innovation

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Topics > Innovation > Bringing Innovation to Market > Eric Markowitz | Inc.com staff
Feb 15, 2011
The Case for Dreaming Big
American businesses need the next generation of innovators to step up in order to succeed. But how do we find them? Tuck School of Business professor Vijay Govindarajan might have an answer. 197
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Vijay Govindarajan (right) with Chris Trimble, co-authors of The Other Side of Innovation: Solving the Execution Challenge Vijay Govindarajan does not believe in failure, though he thinks your company should try it. Govindarajan, a business professor, student of corporate innovation, and occasional sports buff, recently released his eighth book, a veritable how-to guide for CEOs and entrepreneurs titled The Other Side of Innovation: Solving the Execution Challenge. As the Earl C. Daum 1924 Professor of International Business at the Tuck School of Business at Dartmouth College, Govindajaran has spent decades analyzing how companies make mistakes, grow, make more mistakes, and grow more. "You call it failure," he says. "I call it a knowledge-building exercise." Fostering innovation is a topic on the tongue of every CEO in America, but how do leaders implement this somewhat loosely defined idea into their companies? Govindarajan puts it simply: Dream big. Really big. Govindarajan recently spoke with Inc.'s Eric Markowitz. What should a leader do to facilitate innovation within his or her organization? I think the most important thing the leader can do is dream. And dream big. Big ideas and big concepts lead to major change. Innovation is about bringing out something new, like Apple's iPod or jet engines. When I say dream big, I'm talking about John F. Kennedy. Of course, we've all heard about the early '60s, when he said we'll put a man on the moon and bring him back before the end of this decade. That was a dream. And that big idea...
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