How the Big Boys Chase Innovation

Budget for Innovation
“If you don't budget for something, it doesn't happen,” said Siegel. “Budget for innovation.” On a monthly basis, four to five ideas are pitched to senior management at 1-800-Flowers.com. If even one of those ideas works out, "we're ecstatic," Siegel said, noting that the company has launched dozens of websites that have failed. That culture of innovation has helped 1-800-Flowers.com to be the first company to use an 800 phone number, the first merchant on AOL and the first company to complete a transaction on Facebook.