Best failed idea - Award

Type of record:
  • Reflection tool
  • Micro method
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Ideal innovation phases for this method:
  1. Innovation Phase
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Description

The Best failed idea - Award is a very effective innovation culture tool and goes back to Ratan Tata, CEO of the Tata Group. Based on his mindset and his experience "Failure is a gold mine for a great company" Ratan Tata has initiated the annual Best failed idea - Award.

Once a year, the "Best failed idea" award is presented to the "best" failed ideas and projects - with all the seriousness to learn from them.
  • Effective for all innovation types
  • Effective for disruptive innovations
  • Effective for highly complex challenges
  • Effective for incremental innovations and improvements
  • Effective for low complex challenges
  • Effective for medium complex challenges
  • Effective for radical innovations
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