The three innovation portfolio mistakes is one of the things that one should make sure that they learn when it comes to innovation. Some of the things that happen mostly is that in big companies they always tend to allocate the resources which are there inefficiently, they are also not able to kill the initiatives which are not working and also they pursue few initiatives. When it comes to the innovations, some of the mistakes usually happen because some of this big organizations are very much comfortable and this is with the big swings and with this they always focus on the much more efficient ones and always put their muscle or the effort on the few initiatives which are key.
With the innovations, most executives always misunderstand the risk curve and with this, they always take the innovation initiatives and most of them mostly fail and it also becomes very hard for them to admit that. Some of the things that one is very sure of when it comes to the big companies are that most of the things and also the initiatives are always killed way before they can be launched which is very bad.
One of the things that usually happen is that with the innovations there is always an internal sales friction and with this the executives are the ones who become very reluctant with whatever they are doing which is not very good and thus they undertake risky endeavors at the long run. One of the mistakes that most companies or the organizations tend to do is that they always tend to have the corporate politics which is very bad and with this, the departments which are there are the ones which kill the others if they tend to rise up. There is also the coordination challenges and we have the other antibodies to change everything.
One of the things that one is very sure that it will bring some changes in an organization is by having the startups and with this one is very sure of what they are doing very well. Some of the things that always happen if one gets to have the traditional approach are the high outcome volatility and also poor average results which usually happen, we also have deeply inefficient resource and high outcome volatility. When it comes to the corporate venturing one should always know that this is always an additional strategy and not a replacement in any way and with this one should make sure that there is the harmonizing of the financial and also the strategic imperatives, there is also the overpaying of the deals which are there, the building and also retaining of a quality team which is very good and one should make sure that there is also the coordinating with the mother ship which is always a plus for everyone.