The Innovator’s Hypothesis: Summary Review

This is a summary review of The Innovator’s Hypothesis containing key details about the book.

What is The Innovator’s Hypothesis About?

In The Innovator’s Hypothesis, the author advocates a cultural and strategic shift: small teams collaboratively - and competitively - crafting business experiments that make top management sit up and take notice. Creativity within constraints - clear deadlines and clear deliverables - is what serious innovation cultures do. Schrage introduces the 5X5 framework: giving diverse teams of five people up to five days to come up with portfolios of five business experiments costing no more than $5,000 each and taking no longer than five weeks to run.

Who is the author of The Innovator’s Hypothesis?

Michael Schrage is a bestselling author. He is a Research Fellow at the MIT Sloan School of Management's Initiative on the Digital Economy.

How long is The Innovator’s Hypothesis?

  • Print length: 237 pages

What genre is The Innovator’s Hypothesis?

Business, Nonfiction, Management

What are good quotes from The Innovator’s Hypothesis?

“The ongoing success... reflects two fundamental shifts that have transformed my teaching, consulting, and advisory work since 'Serious Play'. The first is transitioning from the practice of selling solutions to the promise of providing an effective approach. The second is moving from the “transmission of expertise” toward the “cultivation of capability.”

“Providing “the answer” is not the answer... I prefer presenting clients and students with “approaches” – that is methods, tools, and frameworks that put greater power in their hands and minds. That's more sustainable.”

“Who Do You Want Your Customers to Become was published... in 2012. Its essential insight is that innovation is an investment in the human capital, capabilities, and competencies of customers and clients. Business history gives great credence to this “human capital” model of innovation. For example, George Eastman didn't just invent cheap cameras and film; he created photographers. Steve Jobs didn't merely “reinvent” personal computing and mobile telephony; he reinvented how people physically touched and talked with their technologies. Successful innovators have a “vision of the customer future” that matters every bit as much as their product or service vision. By treating innovation as an investment in customer futures, organizations can make their customers more valuable. In other words, “Making Customers Better Makes Better Customers.”

“Who Do You Want Your Customers to Become' was published... in 2012. Its essential insight is that innovation is an investment in the human capital, capabilities, and competencies of customers and clients. Business history gives great credence to this “human capital” model of innovation. For example, George Eastman didn't just invent cheap cameras and film; he created photographers. Steve Jobs didn't merely “reinvent” personal computing and mobile telephony; he reinvented how people physically touched and talked with their technologies. Successful innovators have a “vision of the customer future” that matters every bit as much as their product or service vision. By treating innovation as an investment in customer futures, organizations can make their customers more valuable. In other words, “Making Customers Better Makes Better Customers".”

“The bottom line is a learning curve.”

“They desired effective change, not disruptive revolution.”

― Michael Schrage, The Innovator’s Hypothesis
 

What are the chapters in The Innovator’s Hypothesis?

Chapter 1: The Innovator's Vision
Chapter 2: What Is a Business Hypothesis? What Are Business Experiments?
Chapter 3: Ideas Are the Enemy
Chapter 4: Simple, Fast, Cheap, Smart, Lean, Important
Chapter 5: The Fundamental Value Innovation: Stealing from Warren Buffet
Chapter 6: Investing in Experiments
Chapter 7: Blockbusted: A Case Study in Experimental Frustration and Failure
Chapter 8: Exploring and Exploiting Expermentation: The 5x5x5 Approach
Chapter 9: The 5x5 Portfolio: Three Real World Examples
Chapter 10: Key Steps to the 5x5
Chapter 11: Crafting Great Business Experiments: Three Themes
Chapter 12: A Guide for X-Teams
Chapter 13: What Makes "Hypothesis" So Hard?
Chapter 14: Q & A
Chapter 15: Experimenting with Experimentation Appendix: The Innovator's Hypothesis Math Bibliographic Essay

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Tal Gur is a location independent entrepreneur, author, and impact investor. After trading his daily grind for a life of his own daring design, he spent a decade pursuing 100 major life goals around the globe. His most recent book and bestseller, The Art of Fully Living - 1 Man, 10 Years, 100 Life Goals Around the World, has set the stage for his new mission: elevating society to its abundance potential.

 

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Founder

Tal Gur is a location independent entrepreneur, author, and impact investor. After trading his daily grind for a life of his own daring design, he spent a decade pursuing 100 major life goals around the globe. His most recent book and bestseller, The Art of Fully Living - 1 Man, 10 Years, 100 Life Goals Around the World, has set the stage for his new mission: elevating society to its abundance potential.

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