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Managing Innovation:

Managing Innovation:. “Controlled chaos” or “How to separate the winners & losers”?. Inventors & Entrepreneurs. Orientation Experts & Fanatics Long term horizons Low initial costs Multiple approaches Flexibility Incentives Capital Market Availability.

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Managing Innovation:

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  1. Managing Innovation: “Controlled chaos” or “How to separate the winners & losers”?

  2. Inventors & Entrepreneurs • Orientation • Experts & Fanatics • Long term horizons • Low initial costs • Multiple approaches • Flexibility • Incentives • Capital Market Availability

  3. Bureaucratic Barriersat Large Organizations • Management isolation • Intolerance of fanatics • short term profitability or budget objectives • accounting practices • planning • Incentives?

  4. Formula for Innovation • Atmosphere & Vision • Orientation to the Market • Flat Organizations • Multiple Approaches • “Spin-Offs” • R&D organization concept -- “skunkworks” • Interaction between divisions & external

  5. Innovation Strategy • Opportunities Orientation • Organizational structuring • New vs. extant portfolios … or • New and extant portfolios? • Picking “winners and losers” or • Incorporating talents to the winning formula

  6. Managing by Incrementalism • Avoids “bolt out of the blue” expectations • Phase program planning = “go or no-go” decision-making • Political support • Chaos within guidelines

  7. Management Process Match Recognize that innovation is: • individually motivated • opportunistic • customer responsive • tumultuous • non-linear • interactive

  8. Management Process Match As such, management must: • adopt flexibility • freeze planning only for strategic decisions • specify broad performance goals • maintain a portfolio strategy

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