Recognized by Fortune magazine as “the world’s leading strategy expert in business today”,
Gary Hamel has outlined ten design rules for innovation for companies intent on generating sustained wealth in the future:

1   Unreasonable expectations: The beliefs of the organization set the upper limit on how much innovation is possible for the company. Set goals that reflect a higher reach.

2  Elastic business definition: Do not let your company be bound to a narrow self-concept. Searching for unconditional opportunities will expand your opportunity horizon.

3  A cause, not a business: A business can draw strength and courage from allegiance to a transcendent purpose.

4  New voices: Revolutionary strategies must be found by listening to revolutionary voices. Seek input from the youth, the periphery and newcomers.

5  An open market for ideas: Create a dynamic internal market for ideas within the organization.

6  An open market for capital: Don’t set hurdle rates for new projects when those projects promise to be innovative, sustainable and financially beneficial.

7  An open market for talent: If you give people the chance to do interesting, innovative work and solid compensation, they will join you and stay with you.

8  Low-risk experimentation: Know how to manage the consequences if a risk doesn’t work out.

9  Cellular division: Divide your company into a large number of revolutionary cells. When your company stops dividing and differentiating, innovation and growth slow.

10  Personal wealth accumulation: If you want an entrepreneurial spirit at your company, you must pay people like entrepreneurs. Offer stock options as incentives.

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