Grey Global Group Case

Case Study Final Report
Chapter 7: Companies Recognize Mistakes in an Attempt to Increase Creativity and Innovation
June 26, 2014
Case Study Overview/Summary Grey Global Group is a global advertising agency with its headquarters in New York City. They have 432 offices in 96 countries spread throughout North America, Europe, Middle East and Africa, Asia Pacific, and Latin America. Grey Global Group provides a number of different services including: brand management, marketing strategy, creative development, direct marketing, public relations, public affairs, digital marketing, and production through its subsidiaries worldwide, such as Grey New York. Some well-known clients of Grey Global Group are Proctor & Gamble, Nokia, DirecTV,
As stated in the book they have “The Heroic Failure Award.” Greys motto is “better to attempt something astonishing and go down in flames than to gingerly hold back.” In order to be an innovative business you need to embrace the importance of failing, and then trying again. To go along with risk taking, astonishing acts, and being innovative, Grey Global Group has a No Meeting Zone every Thursday morning from 9am to noon. They encourage everyone in the company to spend those 3 hours doing something challenging and unexpected. This company continues with their innovative style with the use of the Corkwall. It is used as a message board where all ideas are out in the open and up for discussion. Also health and wellness are a key part to a healthy mind and lifestyle. Creativity booms on the clearness and confidence that comes with good health. At Grey Global Group they offer such things as Yoga, Zumba, softball games, and tips on healthy eating to help keep a healthy and fresh mind and body. All of these very innovative approaches are what make Grey Global Group a top innovative
What are the pros and cons of encouraging people to take risks and fail in the pursuit of innovation?
Taking risks obviously comes with its pros and cons. In the business world today taking risks shows that you take initiative. That is major step in trying something new. Without initiative, it may never happen. Taking initiative shoes leadership; which is another pro of risk taking. Leadership in today’s business world is a must. It shows management you possess the right skills to progress and shows them you will be an asset to their business. Amanda Zolten is an asset to Grey New York as well as Tor Myhern.
Where there are pros there are cons too. Failure is always a concern. Failing may lead to being considered incompetent or rejected by others on future projects. Losing the support of other coworkers and management because of too much risk taking could become tragic to your abilities. If this happens the issue at hand may never be resolved. There are always two sides to every story, always advantages and disadvantage, when it comes to risk taking