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Is It
Worth Doing?
Innovation
Little i
1. Necessary for improvement
2. Do not give competitive edge
3. Do not contribute much to profitability
.Big i
1. New to company or world
2. Push firm into adjacent markets
3. Can generate the profits needed
Big i
Risky
Probability of failure is high
Avoiding risk can stop growth
Solution!
Adapt a process which distributes innovation more
evenly across the spectrum of risks.
Two Tools
1. General Electric
2. Honeywell
3. Novartis
4. Millipore
5. 3M (used it for more than 1500 projects and taught
executives andWharton students how to use it)
The Risk Matrix
Size of dot
It reveals two things
Screening with RWW
Vary by company
Type of initiative
Stage of development
Members from all departments are included
Should not be regarded as obstacle to overcome
Should not be regarded as go/no go tool
Is it real?
Costly process
Technology Push