Week 14 Reading Reflection

The Entrepreneurial Mind-Set in Organizations & Social Entrepreneurship and the Global Environment for Entrepreneurship

1. I was surprised by some of the strategies for developing and supporting radical innovation, especially removing budgetary and deadline constraints!
2. I understand the concept of not punishing failures when you are encouraging employees to take risks and be innovative, but I have yet to be in a situation where someone has taken a big risk and it turned into a big failure, so I can't really imagine how management would handle that.
3. Question 1: With companies like 3M that tolerate failure, how much failure do they incur each year? Question 2: What types of reward systems are set up to encourage innovation?
4. Not that I disagree with the need to allow people to take risks and to tolerate failure, I just feel like it would be really hard for me to be a manager and see many risks and failures come through my department and still continue to encourage innovation, especially if I didn't think the employees had a great idea.