The Economist on the $300 House

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Today, we're launching an Open Social Co-creation Contest, sponsored by Ingersoll Rand and hosted by Jovoto, asking everyone, from designers and architects, students and professionals, to submit their designs in an effort to find affordable housing solutions for the poorest of the poor.
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We often ask executives to tell us about their biggest innovation failures. A recent example is disconcertingly typical. In this blog VG, with Jay F. Terwilliger and Mark H. Sebell, discusses how to enhance tomorrow's success by learning from yesterday's failures.
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As innovation practitioners, we see failure every day, and we can tell you exactly what drives us nuts about it.
It's how poorly failure is understood — even by people who have a great deal at stake. We can't tell you how many times we've heard someone who should know better tell us, in effect, "I know failure is part of innovation," and then demonstrate that they don't really embrace it. It's like the common observation in the food industry that consumers "talk thin and eat fat." The "say/do" ratio is way out of whack in both cases.
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