It is generally accepted that innovation involves risk. In the more enlightened organizations it is also clear that failure should be accepted as a consequence of playing the innovation game. It’s a bit like sport. You can’t win all the time, but it doesn’t mean that you change the whole team if you lose one game. Equally, embracing failure is going too far.

Very few management systems or initiatives start with a blank sheet of paper.  Every sizeable company already has ways of managing supply, quality, finance etc – and innovation.  When the realisation comes that innovation needs to be strengthened, the temptation is often to import a system that will solve all your problems.