All economic activity is by definition 'high risk.' And defending yesterday--that is, not innovating--is far more risky than making tomorrow. -- Innovations and Entrepreneurship (1985)
About this quote
- What does it mean?
- Not innovating is riskier than innovating because staying the same makes you vulnerable to change.
- In plain terms
- Staying old is more dangerous than trying something new.
- What can you take from it?
- Innovate to survive; stagnation is the real risk.
Where it applies
Putting it to work
Questions to consider
- What risks are you avoiding?
- How can you embrace change?
Another view
Innovation also carries execution risk and can fail.
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