Thursday, February 20, 2020

Experimentation Works: The Surprising Power of Business Experiments (Stefan H. Thomke)

When you were in school, you most likely learned about the scientific method. In its various forms, it has had 400 years of impact on research and development of inventions and new ways of thinking. In many respects, innovation in business follows similar pathways, and it can be argued that businesses that encourage a curious environment of testing and experimentation have better sales and growth over time.

Stefan H. Thomke is the author of Experimentation Works, a new book that tracks how successful companies innovate, experiment, and support an organizational culture that values new and creative ways of doing business. One particular instance was with Microsoft’s Bing Browser and ad revenue, where a few small changes yielded large returns in ad revenue. Thomke spends much the book within the technological realm but effectively weaves in examples of where experimentation can cross into different business lanes. Given the increasing influence that technology has in our lives, I found this to be an important but understated takeaway.

Experimentation Works targets higher level management in companies and provides sound advice for business leaders to encourage and foster a thoughtful and intelligent approach to creativity.  The adage “adapt or die” certainly rings true and Thomke’s book helps make a solid case for businesses to show creativity and adaptability.