The three innovation portfolio mistakes is one of the things that one should make sure that they learn when it comes to innovation. 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. When it comes to the innovations, some of the mistakes which one makes is that they are always very much comfortable with the big swings instead of focusing with even the small ones.
One of the things when it comes to the innovations is that most of the innovations initiatives which they most undertake mostly fail and with this it is always very hard for them to see it and also very hard for one to admit it. When it comes to the big companies one should make sure that everything is done in the right way and with this we see that most of the initiatives are always killed even before they are even launched.
There is always an internal sales friction and with this, the executives always become very reluctant to undertake any risky endeavors. When it comes to the innovations, there is always some corporate politics and with this, the departments which are there always tend to kill the other departments and with this if one department rises the other one kills it and this always tend to kill the initiatives which are there. There is also the coordination challenges and we have the other antibodies to change everything.
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, 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.