Innovation

Question 1

Real, Win, Worth it? - Incremental innovations

Answer 1

• Incremental innovations - small one - make small change to your firm

Question 2

Real, Win, Worth it? - Big change

Answer 2

• Risky, but you can achieve growth

Question 3

Real, Win, Worth it? - 2 Tools for managing the risks

Answer 3

• Risk Matrix - project profitability
• R-W-W - project feasibility

Question 4

Is it real?

Answer 4

Is there a need or desire?
Can the customer buy it?
Is the size of the potential market adequate?
Will the customer buy the product?

IS THE PRODUCT REAL?
- is there a clear concept?
Can the product be made?
Will the final product satisfy the market?

Question 5

Can we win?

Answer 5

CAN THE PRODUCT BE COMAPRIBELE? (competitive adv, can the advantage be sustained?, hao will competititors respond?)

CAN OUR COMPANY BE COMPETITIVE? (Do we have superior resources? Do we have appropriate management? Can we understand and respond to the market?)

Question 6

Is it worth doing?

Answer 6

Will the product be profitable at an acceptable risk?

Does launching the product make strategic sence? - growth strategy, top management support?