4 Flashcards
Wat zijn nadelen van open innovation
1: Possibility of revealing information not intended for sharing
2: Lack of strategic alignment and unclear goals
3: Firms with negative collaboration experiences may encounter negative innovative performance
4: Rewarding and motivating participants
Welke types of uncertainty zijn er
Technical: How to develop the science for a particular project?
Market: How will the market respond?
Resource: Time, people, money needed for the project?
Organizational: Out-sourcing some parts; co-locating a team?
Waarom is het belangrijk to select
Can’t do everything - limited resources
Start-ups have one big bet, need careful choice
Established organizations need a balanced portfolio
Wat is een business model
Business models provide a powerful way of representing how an innovation will create
and deliver value
Wat is portfolio management
All projects that aare going on and the financial spect of it
Wat zijn keuzes bij kiezen incremental en radical innovations
Incremental innovation: Relatively little difficulty because of high involvement and everything can be worked out
Radical innovation: High uncertainty because it is outside the box
Wat is project appraisal
Profile and gain an overall understanding of potential projects
* Prioritize and where necessary reject projects
* Monitor projects
* Where necessary, terminate a project
* Evaluate the results of completed project
* Review successful and unsuccessful projects to gain insights and improve future
project management, i.e. learning
Welke selection methods zijn er
Checklist: A list of factors which are considered important in making a decision in a specific case (score and weight)
Decision matrix: x-as requirement y-as options and rate everything
Financial measures
Portfolio Management Methods
Welke financial measures zijn er
Net Present Value (NPV): The discounted cash inflows of a project minus the discounted cash outflows
Return on Investment: Current value of investment- cost of investment/ cost of investment
Payback period: The ratio of the total cash to the average per period cash. It is the time to recover the cost invested in the project
Cost/Benefit Ratio: Τhe value of return from the project. Projects that have a higher Benefit-Cost Ratio or lower Cost-Benefit Ratio are generally chosen over others
Wat zijn portfolio management methods
Portfolio Management techniques are systematic ways of looking at a set of projects or activities or even business units, in order to reach an optimum balance between risks and returns, stability and growth, attractions and drawbacks in general, by making the best use of usually limited resources
Wat zijn bubble charts
Portfolio management method x-as and y-as from low to a and you can place rounds on the correct place
Wat is een bcg matrix
Portfolio management method
2 by 2 blocks with high market growth and low market growth (possible growth or not) and low market share and high market share (strong or weak position in market)
1: Dogs: These are products with low growth or market share
2: Question marks: Products in high growth markets with low market share
3: Stars: Products in high growth markets with high market share
4: Cash cows: Products in low growth markets with high market share
Wat is forecasting innovation
Guessing how well an innovation will work in the future
Wat is een vorm van internal analysis
Brainstorming: It is used to forecast demand, especially for new products/services
Wat is een external analysis
Delphi method: It is used where a consensus of expert opinion is required on the
timing, probability, and identification of future technological goals or customer needs
1. A project facilitator is to be assigned – he/she should have experience in using Delphi Technique
2. Begins with a postal survey of expert opinion on what the future issues will be and the likelihood of the developments
3. The response is analyzed and the sample is resurveyed with a more focused questionnaire
4. The procedure is repeated until some convergences is observed
