<ul><li>The traditional approach of 'fail fast' and 'move fast and break things' in innovation may not be effective in most situations as it often avoids managing risk, thinking strategically, being transparent, and taking responsibility.</li><li>A smarter approach involves 'failing smarter,' which means treating failures as learning opportunities by having clear hypotheses, measuring specific outcomes, and building systematic understanding.</li><li>Additionally, 'failing sooner' emphasizes timing and risk assessment in experiments to manage investment risk, reduce potential negative impacts, and gain valuable insights for the next iteration.</li><li>The concept of 'failing forward' suggests using each experiment as a chance to learn, make progress, and adjust goals based on the information gained, treating measures and results neutrally.</li></ul>

Beyond ‘Fail Fast’: A Smarter Approach to Innovation

Discover more