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EVALUATING RADICAL INNOVATION PORTFOLIOS.
- Source :
- Research Technology Management; Sep/Oct2007, Vol. 50 Issue 5, p17-29, 13p
- Publication Year :
- 2007
-
Abstract
- Radical innovation in large firms is a risky endeavor, exacerbated by high levels" of uncertainty and long cycle times. Moreover, management lacks evaluation tools that are appropriate for the degree of ambiguity of the information available from these types of projects. Add to this the difficulties of managing in the context of the large firm where many processes are tuned toward repetition and continuous improvement, and it becomes clear that commercialization of radical innovation (RI) is a difficult proposition at best. Portfolio managers will almost invariably build a team, learn appropriate processes, clarify their mandate within the company, generate initial projects, and begin to enrich their portfolios, only to have their efforts cancelled out due to an unsatisfactory financial return. The "what have you done for me lately?" question plagues these groups, and ends up costing the company investment of resources in opportunities that are never leveraged. Having an evaluation tool to assess the relative values of projects within the context of the entire radical innovation portfolio, and to track changes in the relative value of the portfolio over time, can help RI portfolio managers articulate their contribution to the company's growth strategy and can aid in innovation strategy development. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 08956308
- Volume :
- 50
- Issue :
- 5
- Database :
- Complementary Index
- Journal :
- Research Technology Management
- Publication Type :
- Academic Journal
- Accession number :
- 26482238
- Full Text :
- https://doi.org/10.1080/08956308.2007.11657458