|
|
| Line 1: |
Line 1: |
| − | # Idea generation
| + | M3-S6 - Session notes |
| − | ## Conceiving
| |
| − | ## Exploring
| |
| − | ## Shaping
| |
| − | # Conversion
| |
| − | ## Screening
| |
| − | ## Funding
| |
| − | ## Development
| |
| − | # Diffusion / Exploitation
| |
| − | ## Entry
| |
| − | ## Chasm cross
| |
| − | ## Exploitation
| |
| − | ## Leverage
| |
| − | | |
| − | Value creation only happens in diffusion / exploitation. Eric Wood suggested to turn the whole phasing around: first enter to the market and ''get some customers with someone else product''. Example was a scientist with unique bio product, started with competitors product to get customers. Moving on from there.
| |
| − | | |
| − | '''Some propositions for consideration:'''
| |
| − | '''P1''': Value creation potential is only as good as the weakest link in your innovation / entrepreneurship value
| |
| − | '''P2''': The most commonly neglected component is the last which is also the most important for value creation
| |
| − | '''P3''': Limiting the number of projects at the conversion stage is even more important for an entrepreneurial venture
| |
| − | '''P4''': The failure to recognize flawed assumptions is the single greatest constraint on value creation.
| |
| − | '''P5''': A primary task of managers and entrepreneurs is to create an environment in which flawed assumptions are likely to be recognized quickly and acted on appropriately
| |
| − | | |
| − | '''Exploit before you explore'''
| |
| − | "As a strategy the gold medalist consistently chose to pursue exploitation over exploration initiatives"
| |
| − | "... Henry Wellcome... wanted to make name for himself as a medical pioneer"
| |
| − | "... the first of many occasions that the firm exploited someone else's invention"
| |
| − | "... a me-too product like Zantac could never win more than 50% of the market... Galxo decided to put a price premium to stress its superiority over Tagemet"
| |
| − | "... once again buying, rather than buildling its pipeline.
| |
| − | | |
| − | "Risk to value creation in the portfolio"
| |
| − | Three mechanisms:
| |
| − | * Duplication
| |
| − | ** Do not pursue projects that are too similiar, possibly competing for resources
| |
| − | * Omision
| |
| − | ** Gap's in execution (marketing, development): you need every function
| |
| − | * Alignment
| |
| − | ** Product does not solve a 'customer pain'
| |
| − | | |
| − | '''Realistic goals for a disciplined portfolio approach'''
| |
| − | * Greater formalization of strategic purpose, priorities, and project selection criteria, desirable project characteristics
| |
| − | * Improved communication of these
| |
| − | * More effectively manage expectations of project stakeholders
| |
| − | * Highlight dangers of project overload & non-availability of critical resources
| |
| − | * Highlight imbalances, gaps
| |
| − | * Presever resources for 'special case' projects
| |
| − | * Highlight need to reexamine strategic purpose
| |
| − | * Improve team cooperation, commitment
| |
| − | * But selection process:
| |
| − | ** Wil not be scientific or objective
| |
| − | ** Must leave scope for management judgement
| |
| − | | |
| − | '''Portfolio techniques'''
| |
| − | * Value maximization
| |
| − | ** [[NPV|NPV]]
| |
| − | ** [[IRR|IRR]]
| |
| − | ** [[ECV|ECV]]
| |
| − | ** Scoring
| |
| − | ** Monte Carlo
| |
| − | ** Real Options
| |
| − | * Balance alignments
| |
| − | ** Strategic methods
| |
| − | ** Yime & Resources
| |
| − | ** Risk & Reward (bubble)
| |
| − | ** Scoring
| |
| − | * '''The danger is that these techniques are killing the conversion'''
| |
| − | | |
| − | '''Method perspective'''
| |
| − | * Strategic methods
| |
| − | * Financial methods
| |
| − | * Scoring model
| |
| − | * Bubble diagrams
| |
| − | | |
| − | '''40% of businesses only use financial methods''' (Cooper et al 2001)
| |
| − | | |
| − | '''Consideration in the selection the method'''
| |
| − | * Simplicity
| |
| − | * Ease of use
| |
| − | * Suspectability to manipulation
| |
| − | * Usefulness for drawing in different perspective
| |
| − | | |
| − | '''Weighted Scoring Method'''
| |
| − | Capable of incorporating
| |
| − | * Market attractiveness
| |
| − | * Timing
| |
| − | * Risks
| |
| − | * Company Competence
| |
| − | | |
| − | Summary:
| |
| − | * Preserve resource for exploitation
| |
| − | * Displined portfolio metohds need to focus on improving conversations
| |
| − | * Do not only use financial methods
| |
| | [[Category:mbi]] | | [[Category:mbi]] |
