Michael Schrage, a research fellow with MIT’s Center for Digital Business and MIT’s Entrepreneurship Center, has developed the 5x5x5 Rapid Innovation Method, a very concrete way of putting Shiv’s notion into practice. “The idea is fairly simple and straightforward,” he says. “A company looking to drive breakthroughs in a particular area sets up five teams of five people and gives each team five days to come up with a portfolio of five ‘business experiments’ that should take no longer than five weeks to run and cost no more than five thousand dollars each to conduct. These teams are fully aware
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