Tuesday, August 21, 2012

Top management’s relevance to risk taking


Taking risk is key to innovation. The more formal a company is, the less likely people are to do anything to rock the boat. Doing new things does involve some professional risk to the person leading the initiative. A lot of handholding by top management can encourage people to take risks. Innovation happens on small budgets as proved by Velvette Shampoo, sold in one-rupee sachets for the poor.

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