When it comes to the innovation, one of the best things that one should always want to know is the three innovation portfolio mistakes. The 3 mistakes which people usually make when they are in the companies and especially the big companies are making sure that they pursue too few initiatives, allocating resources inefficiently and also failing to kill the initiatives that are not working which are very wrong. 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.
They also misunderstand the curve of risking and with this most of the innovations they tend to undertake may fail but then it is also very hard for one to know and also admit it well. With the big companies, some of the things that one gets to think of are always killed way before they have been launched and thus they trot effects of risk mitigation systems.
One of the things that usually happen is that with the innovations there is always an internal sales friction and with this the executives are the ones who become very reluctant with whatever they are doing which is not very good and thus they undertake risky endeavors at the long run. One of the mistakes that most companies or the organizations tend to do is that they always tend to have the corporate politics which is very bad and with this, the departments which are there are the ones which kill the others if they tend to rise up. In each and every organization we get the coordination challenges which are always there and we also experience the other antibodies to change the organization.
One of the things that one should make sure that they try to have is making sure that they have the startups which is very good and with this one is very sure that the organization will change very greatly. 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 one should always know that this is always an additional strategy and not a replacement in any way and with this one should make sure that there is the harmonizing of the financial and also the strategic imperatives, there is also the overpaying of the deals which are there, the building and also retaining of a quality team which is very good and one should make sure that there is also the coordinating with the mother ship which is always a plus for everyone.