Jim March, professor emeritus at Stanford University…pointed out that our understanding of how to manage creativity is impeded by the lack of a theory of novelty, and proposed the beginnings of one. Three conditions seemed to him to be necessary for novelty—slack, hubris, and optimism—which suggest mechanisms that organizations could employ. Slack in an organizational setting means sufficient time and resources for exploration. Increasing hubris means inspiring managers to take risks. Optimism takes hold when a vision of something truly different is made to seem more promising than the status quo.

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Original Source: Harvard Business Review