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Only about one in three applicants gets into the course, but a new book tells what goes on behind the classroom door, and how it applies to real-world companies.

"...trying to create something truly new means generating lots and lots of ideas, with the understanding that most of them are going to be flops. Few businesses are prepared to tolerate, much less encourage, the inevitable failures."

Top management knows that "on average, about one-third of all projects they attempt will work out," Seelig writes. "That means that, in order to get four successes, they need to do a dozen experiments."