One of the directly associated problems with innovation, is that a company can tolerate letdown for small ventures, but can’t bear setback for a big one. Accordingly, we can notice Ford, an automobile giant which undertakes loads of tests and trials in order to make failure tolerable. The cause behind making failure acceptable, is due to the risky nature of innovation.
In line with preceding notion, it is worthy to mention that people appear to overlook Apple’s first phone, the Rokr, the one which was extremely catastrophic that even Steve Jobs himself decided to kill it immediately. Nevertheless, what Apple did learn from that experience helped them to lay-down a solid bedrock for the forthcoming series of innovations.
Unfortunately to that, in most other companies, if they would fail with the first attempted product release, it will most probably end up with firing the majority if not all involved individuals. In further extreme scenarios, the firing decision can be followed with a call to leave that sought-after market segment. And if Jobs had the same mentality, then the world would have never had the opportunity to enjoy the smartness and elegance of the iPhone (Enderle, 2016).
Enderle, R., (2016), ‘How Ford’s approach to innovation could help Apple‘. CIO Portal. Available online from: http://www.cio.com/article/3020263/innovation/how-ford-s-approach-to-innovation-could-help-apple.html.