Seek the Truth: How Emotions and Biases Can Distort Progress Evaluations of Innovation Initiatives-and How to Counteract Them

By: Chris Trimble and Vijay Govindarajan

Sign Up Now! Already a Member? Log In
You must be logged into Bookshare to access this title. Learn about membership options, or view our freely available titles.

Synopsis: Innovation is a risky business, fraught with the possibility of failure. In what the authors call the Moment of Truth, you evaluate the success-or failure-of your initiative. A simple innovation might have only one Moment of Truth, but for most initiatives, there are many. And each one is more than just a learning opportunity; it is a critical chance to alter the trajectory of the initiative and improve its odds of success. In this chapter, the authors show how emotions and biases can undermine conversations about how an innovation is progressing, even with a crystal-clear hypothesis, a rigorous learning process, and a solid framework for accountability all in place. They describe seven biases that can impede learning and cloud judgment during Moments of Truth, with overcommitment to the original innovation plan being by far the most common and most dangerous. Using examples from Deere & Company, Thomson Corporation, and Fisher-Price, they offer practical ways to evaluate progress and keep your innovation initiative on the path to success. This chapter was originally published as Chapter 6 of "The Other Side of Innovation: Solving the Execution Challenge."