What you could learn from ‘The Business Case for Curiosity’ this months HBR (Sep/Oct 2018)
Does 10X thinking work? Research of top consumer packaged good companies suggests not. When comparing two large companies (P&G and Reckitt Benckiser RB), RB had a much higher hit rate for new product innovation, despite the smaller R&D budget. The author argues this was due to RB focus on improvements to their most profitable brands, which leads to outsized pay-offs.
Creating a vivid vision
“A computer in every home” is a clear, vivid and compelling vision. The authors argue that if you encouarge people to ‘time travel’ into the future and ‘see’ the future, they are more likley to create a vivid and compelling vision.
- Fewer decisions making errors. Curiosity means you are less prone to confirmation bias and stereotyping.
- More innovations. People find alternative solutions, especially when faced with binary decisions.
- Reduced group conflict. Curiosity involves putting yourself in other people shoes, increasing empathy and group cohesion.
- More open communications. Infomation is shared more widely, deeply and frequently, and people listen more carefully.
Five ways to boost curiosity
- Hire curious people. Find ways to identify curious people.
- Model inquisitiveness. Lead by example,
- Emphasise learning goals.
- Let employees explore and broaden their interests.
- Have explored days.