When it comes to the innovation, one of the best things that one should always want to know is the three innovation portfolio mistakes. When it comes to the mistakes that most people or companies usually make are pursuing too few initiatives, they also allocate the resources that they have inefficiently, and they also fail to kill the initiatives which are not working which is not good. The reason why some of these mistakes tend to happen is that the large organizations are always very comfortable with the big swings which are not good.
With the innovations, most executives always misunderstand the risk curve and with this, they always take the innovation initiatives and most of them mostly fail and it also becomes very hard for them to admit that. Some of the things that one is very sure of when it comes to the big companies are that most of the things and also the initiatives are always killed way before they can be launched which is very bad.
There is always an internal sales friction and with this, the executives always become very reluctant to undertake any risky endeavors. The corporate politics are always there and with this one department tends to fight the other and with this one does not see any change and this forces against the innovations which may be there, and they also tend to kill the initiatives which are already there. When it comes to the innovations and the mistakes that most organizations make, we get the coordination challenges and we also have the other antibodies to change and with this, it also affects the organization very much.
One of the things that one is very sure that it will bring some changes in an organization is by having the startups and with this one is very sure of what they are doing very well. When it comes to the traditional approach of things, they always result in having poor average results, also having high outcome volatility and also deeply inefficient resource allocation and we also have the high outcome volatility. When it comes to the corporate venturing, it should always be an additional strategy and with this one they always face their own challenges like the coordinating with the mother ship, also harmonizing financial and strategic imperatives and also overpaying for the deals and building and also retaining a qualified team.