|
|
| Line 1: |
Line 1: |
| − | '''Tech innovation risk dimensions'''
| + | M3-S2 - Session notes |
| − | * Assess risks in different areas:
| |
| − | ** Probability of technical completion
| |
| − | ** Probability of commercialisation
| |
| − | ** Probability of economic profit
| |
| − | | |
| − | Multiply probabilities to get probabilty of succes.
| |
| − | | |
| − | Tech innovation project success rates:
| |
| − | * Depending on the degree of innovation litte chance for success
| |
| − | | |
| − | Examples from Biotech: very little chance of success and very big losses.
| |
| − | | |
| − | In practice pharma owns the market and sales channels. Biotech companies get the 'risk' part of the deal and Pharma owning the sales channel gets the 'reward'
| |
| − | | |
| − | '''Cash implications of technology'''
| |
| − | * Common tech venture challenges
| |
| − | ** Basics
| |
| − | ** Under-estimate, over-estimate cash requirements
| |
| − | ** Absence of '[[Unfair advantage|Unfair advantage]]'
| |
| − | ** Too late, too early
| |
| − | ** Bumped off teh adoption life cycle: fall into the 'chasm'
| |
| − | ** Not offering a whole product
| |
| − | ** One-product wonder
| |
| − | | |
| − | <html>
| |
| − | <img src="/static/files/MBI/Module%206/Technology-Adoption-Lifecycle.png" width="600" />
| |
| − | </html>
| |
| − | | |
| − | Whole product:
| |
| − | * Generic product
| |
| − | * Expected product
| |
| − | * Augmented product
| |
| − | * Potential product
| |
| − | | |
| − | With respect to dealing with risk & return see also [[Innovation portfolio|Innovation portfolio]]. In a startup company where do you start? How far 'breakthrough' would you like your new product be?
| |
| − | | |
| − | '''Entrepeneurs are risk takers??'''
| |
| − | * Entrepreneneurs do not have a higher willingness to knowingly take risks thyan the general population
| |
| − | * Perceive risk differently than the general population
| |
| − | * Lower perception of risk
| |
| − | "Entrepenuers do not need a greater willingness to take risks if they do not perceive the riskiness of their act"
| |
| | [[Category:mbi]] | | [[Category:mbi]] |
