Most innovation programs have a critical flaw

They assume human nature is neutral to innovation, but humans are averse to innovation. Humans would rather stick with best practices than pursue the next practice a.k.a innovation – because the next practices create a stronger fear of failure than best practices. Stated differently, most innovation programs are destined to fail from the beginning.

This phenomenon was first revealed by Harvard Business School professor Youngme Moon regarding companies chase the same opportunities that every other company is chasing, they miss the same opportunities that everyone else is missing. Overcoming best practices is difficult. However, comprehensive research published in the ‘Escape from System 1’ shows that it is not impossible.

A study conducted by Straits Research in 2022 shows that the size of innovation programs is projected to reach USD 6.2 Billion by 2030, growing at a CAGR of 16.4%. Starting an innovation program to create the next practice, and avoiding tendency to chase the same opportunities that best practice chase, will increase the success rate of innovation programs.

This year, the NUS Executive Education has launched a customized Next Practice Leadership Program and I am excited to be serving as the Program’s Director. This program is designed to increase the innovation success rate by helping organizations and leaders to escape from best practices and to help them find a safe haven in the next practice.??

If you or someone you know is interested to learn more about the Next Practice Leadership Program, please fill out our inquiry form to connect with the team for more information: https://cloud.mail.bschool.nus.edu.sg/NP2