Economist.com’s Social Web Flop, Now In Paperback

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Economist Group’s £100,000 project to think up a social web platform may have flatlined last year – but the publisher now has another long tail to pin on the 10-month affair… a book chronicling the experience.

Codenamed Red Stripe (yes, like the Jamaican beer), the project charged six Economist folks, under CIO Mike Seery, with “creating an innovative and web-based product, service or business model by July 2007” – but the effort finished with the publisher conceding “it was not obviously something that The Economist Group should do

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Andrew Carey

Laura:

Yes, it absolutely was, and is, the point. One of the dilemmas highlighted by The Economist project is this:

If you keep innovation within the mainstream of the organisation, you build in gateways for evaluating new ideas and proposals as they emerge. That can stifle radical innovation. If you hive-off innovation into a 'protected environment' uncluttered by conventional thinking and business criteria, you may end up with an innovation idea that the organisation just doesn't want to do.

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