ABSTRACT
This chapter explores with managing uncertainty and learning from failure. It draws from a series of interviews with David Falzani, based upon his unique experience of working in multinationals, such as IBM and News Corp, and fast-growing entrepreneurial organizations, one of which grew from 250 to 2,000 employees in less than two years. The chapter addresses the limits of decision making and highlight a practical approach to classify the uncertainty inherent within the majority of innovation projects. It compares and contrasts the decision-making practices deployed for incremental innovations with those required for more radical projects. The chapter also introduces an experimental approach to decision making used within contemporary and successful fast-growing firms. Addressing uncertainty through costly reparations following the launch of a new product might be tolerable for the major players, but for smaller concerns limited resources of time and money a different approach is needed.
