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Black Swan Innovation
No one can predict the future, but that doesn’t mean we can’t prepare for it.
We’ll explore the concept of black swan innovation and discuss how leaders can respond to these events when they occur. We will also look at some examples of black swan innovations that have profoundly impacted society. Leaders can minimize the negative consequences of these unpredictable occurrences by understanding what a black swan event is and how to prepare for it.
What is a Black Swan Innovation?
A Black Swan innovation is an unpredictable event or occurrence that changes the course of an industry or business. It is something that no one could have ever predicted and can completely overturn the status quo.
The term “black swan” comes from the idea that black swans are events or occurrences that are so rare that they are almost impossible to predict. The black swan was given its name because all other swans were white before being discovered in Australia. Consequently, the bird was thought of as an impossibility.
