The innovation mindset isn’t just about product innovation.
Some organizations have focused on product innovation for so long they don’t know how to innovate in any other areas. For example, in 2010, Microsoft —one of the world’s best product innovators for the last two decades — launched a social phone called Kin. The product was a complete disaster. Within six weeks of the launch, the entire product group was shut down, and, according to their earnings reports, Microsoft took at least a $240 million write-off.
How could such a great product innovator strike out so fast?