Unit 4: Risk and Choice Faculty: Dr. Al Segars
Introduction: • Choice is how we spend money, time and effort investing in innovation. If an organization can’t invest in new ideas, they may lose major opportunities. • Risk is an element that accompanies choice when you embark on something new. • Turn innovation into stories, process, products or experiences. Chain of Logic: • Chain of Logic is a set of initiatives within an organization that are driving towards some market outcome. • Chain of Logic is what the organization is doing, investing in, how it operates to reach a market outcome.
Importance of Defining Analytics: • Interpretation of combinations of statistics and numbers that provide more information together than by themselves. • Portfolio of Analytics: things we collect and things we rely on. Control and Slack in Managing Innovation: • The goal of manage through control and slack (the S-curve ) is that we take a technology and make sure that we use it to its full effect. The S-curve of innovation is a project risk perspective. • Example: Apple. Making Investment Decisions: Lots of risk involved in the innovation game. • Think logically about investment decisions. • Take money from an old investment and put it towards a new investment. • A tool your organization can use to make investment decisions is the Opportunity Matrix . • Example: Premium beer in the Opportunity Matrix. Falling stars vs. rising stars.
Made with FlippingBook - Online catalogs