risk management

  • methods-of-measuring-ideas-for-innovation

    Methods of Measuring Ideas for Innovation

    October 23, 2014 | By: | In: Life Cycle Processes

    Turning ideas into numbers and knowing the characteristics of the Ideal Idea (0.00iur) is like having a compass and knowing the safe harbor where the minimal risks of innovation converge. Mathematically identifying desired ideas by users, extracted from simplified mathematical formulas, is the Holy Grail that eliminates uncertainties and passionate discussions, which are unhelpful in choosing ideas.

  • Scared Business Man

    Intrapreneurship: From Playing Hide and Seek to The Dismantling of Classic Hierarchy. Where are You At?

    October 8, 2014 | By: | In: Organization & Culture

    We bet you hear the word innovation at least a dozen times a day, if not more. Every single company seems to be thinking of, planning for, and somehow doing innovation in some way. With so many ideas, frameworks and success stories, how can you cut through the noise and capture what’s most relevant for your company?

  • What Cleaning Your Closet Can Teach You About Complexity In The Workplace

    What Cleaning Your Closet Can Teach You About Complexity In The Workplace

    December 20, 2013 | By: | In: Organization & Culture

    Is your workplace cluttered? Not in the physical sense, but the figurative one. Do you have a bunch of old tasks and procedures taking up space without adding much value? Just like you have to dig through your closet every so often and get rid of questionable items that you once thought were good purchases, sometimes you have to assess the mental clutter that has built up in the workplace over time and recognize when policies have gone out of style. Tasks and rules that were once must-haves can build exponentially and increase complexity until employees have time for little else, like innovation.

  • Brag about Your Failures

    Brag about Your Failures

    December 3, 2013 | By: | In: Organization & Culture

    Many organizations in both the public and private sectors suffer from a corporate culture which is risk averse and fearful of failure. People are reluctant to try new things or even to suggest innovations. They remember old stories about colleagues being punished for experiments that failed. They have learnt that it is safest to keep a low profile and focus on standard operating procedures. Mean while the executive committee is desperately trying to think of ways to make the outfit more agile and innovative.

  • PharmaX, the CEO’s Dilemma and Open Innovation – Part 3

    PharmaX, the CEO’s Dilemma and Open Innovation – Part 3

    September 24, 2013 | By: | In: Strategies

    In Parts 1 & 2, Gordon, newly appointed CEO of PharmaX, is confronted with a serious innovation gap in the next 5 years. His pipeline of projects is quality but high risk. From an arm’s length point of view, he sees that he has 3 options: business as usual, R&D budget cutting or rethink the way PharmaX assets are being used to redefine a new strategy. In Part 3 we will see how Gordon draws on his experience in customer needs driven innovation and managing his team, to carve out a daring innovation program.

  • PharmaX, the CEO’s Dilemma and Open Innovation – Part 2

    PharmaX, the CEO’s Dilemma and Open Innovation – Part 2

    September 18, 2013 | By: | In: Strategies

    In the first installment, Gordon the newly appointed CEO at Pharmax is confronted with an innovation gap of 5 years. Certainly, the potential of the portfolio is high, but the risks are even higher. With market pressure breathing down his neck, Gordon tries to make sense of the options that he has and make the right decisions.

  • Trying New Methods Is Not Reckless; It Is Essential

    Trying New Methods Is Not Reckless; It Is Essential

    September 12, 2013 | By: | In: Enabling Factors

    We are living in an increasingly litigious age. The number of lawsuits brought against the British National Health Service has doubled in the last four years. The fear of litigation and the real possibility of been found guilty of medical malpractice are inhibiting hospitals and doctors from trying promising new ideas in the treatment of deadly illnesses.

  • PharmaX, the CEO’s Dilemma and Open Innovation – Part 1

    PharmaX, the CEO’s Dilemma and Open Innovation – Part 1

    September 10, 2013 | By: | In: Strategies

    We are on the executive floor of the imaginary pharmaceutical company PharmaX, it is Q3 and the top management is preparing for the annual innovation review. The year has been tough with revenue being hit by generic competition as their major products come off patent, but then it has been difficult for all the industry. This is the first article in a series of three. Parts 2 & 3 will be published in the next 2 weeks.

  • The Importance of Stupid, Irrational Decisions

    The Importance of Stupid, Irrational Decisions

    September 6, 2013 | By: | In: Innovation Psychology, Organization & Culture

    Summer is for relaxing, but also for reading books in more depth. During his vacation Bengt Järrehult read Daniel Kahneman’s book Thinking Fast and Slow for the second time and more thoroughly. Here are Bengt’s thoughts on how Prospect Theory applies to innovation related decisions – the decisions that may seem stupid and irrational – but are they really?

  • Risks of Incremental, Differential, Radical, and Breakthrough Innovation Projects

    Risks of Incremental, Differential, Radical, and Breakthrough Innovation Projects

    July 29, 2013 | By: | In: Enabling Factors

    From incremental to breakthrough innovation projects, managers need to handle different activities and with them dissimilar venues of risks. In this article the internal, external and hidden risks of incremental, differential, radical, and breakthrough innovation projects are identified and ranked accordingly. In addition, for every category a general innovation eco-system has been analyzed.

  • Do SMEs lose their appetite for innovation during the economic crisis?

    Do SMEs Lose their Appetite for Innovation During the Economic Crisis?

    July 16, 2013 | By: | In: Strategies, Support for SMEs

    Innovation is always a result of taking risk and mastering these risks successfully. However, in the past few years the risks resulting from the overall economic situation seems to have increased for small and medium sized enterprises (SMEs). As they cannot control these external risks many of them seem to stay away from too risky innovation projects. This has implications for the SMEs and for those who provide innovation support for SMEs?

  • Illustration by Combined Media

    Internal and Hidden Risks of Innovation Projects

    July 15, 2013 | By: | In: Enabling Factors

    As the economy is dynamically changing and innovation becomes crucially important, a look into the management practices and risks that such projects face should always be welcome. In part two of this series of articles focused on identifying risks on innovation projects, the attention will be directed towards the identification of the internal and hidden risks of innovation projects.

  • 5-key-points-to-consider-when-developing-an-innovation-strategy

    5 Key Points to Consider when Developing an Innovation Strategy

    July 3, 2013 | By: | In: Strategies

    From our talks with innovation management practitioners and business executives it seems that not many organizations have a well-defined and integrated innovation strategy. To find out more about how to go about creating and executing such a strategy, we spoke to Wouter Koetzier and Christopher Schorling at Acceture who encourage a very pragmatic and execution-oriented approach.

  • crowdsourcing_risks_and_rewards

    Crowdsourcing Risk and Reward – How to Evaluate Options for Success

    June 5, 2013 | By: | In: Strategies

    To be upfront about where we stand, yes – we are great supporters of tapping into the wisdom of the crowd for many pursuits – for citizen engagement, open innovation, or crowdfunding. That said, we realize that it’s important to be aware of the fact that there are risks to consider. This article is a response to the concerns raised by people we meet along an organization’s path of considering crowdsourcing to fulfill a particular need for their organization or their constituents.

  • Image by Kelly Schykulski

    Fostering Innovation through Effective Risk Management

    January 3, 2013 | By: | In: Strategies

    Risk management can provide visibility, analytical insights and governance that can help companies better manage and optimize their innovation portfolio. In this article Adi Alon and Ken Hooper look at learnings from the VC industry and risk management practices to provide three principles that can drive higher return from an innovation investment.

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