Innovation Best Practice is a Verb not a Noun
One of the central tenets of 20th Century business has been â€˜best practices’.Â Â Let’s dissect this veritable oxymoron:
- Best:Â highest quality, standing (at a point in time, place and context)
- Practice: aÂ habit or custom (noun) orÂ to do repeatedly to acquire proficiency
Admittedly, and importantly, there are things to learn from others successes and failures.Â But, one of the big mistakes companies make isÂ adopting “best practices” instead ofÂ adapting them (to their own culture).
Companies will succeed in the 21st Century by out [best] practicing their competition to exceed their customers’ and employees’ needs – by turning practice into a verb instead of a noun.Â Those who develop a core competency inÂ experimenting, prototyping, learning, applying, iterating – from success AND failure, will be the ones who provide the most meaningful, valuable offerings toÂ customers and employees.Â That’s what I call practicing! And that’s not an oxymoron.
What can you start being the best at practicing tomorrow? Seriously!
Deb, founder of Mills-Scofield LLC, is an innovator, entrepreneur and non-traditional strategist with 20 years experience in industries ranging from the Internet to Manufacturing with multinationals to start ups. She is also a partner at Glengary LLC, a Venture Capital Firm.
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