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 which one makes is that they are always very much comfortable with the big swings instead of focusing with even the small ones.
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. When it comes to the big companies one should make sure that everything is done in the right way and with this we see that most of the initiatives are always killed even before they are even launched.
There is always an internal sales friction and with this, the executives always become very reluctant to undertake any risky endeavors. The corporate politics are always there and with this one department tends to fight the other and with this one does not see any change and this forces against the innovations which may be there, and they also tend to kill the initiatives which are already there. There is also the coordination challenges and we have the other antibodies to change everything.
When the large organizations want to have a change, they can always make sure that they have some startups and with this, they are able to rise up very quickly. The things that always breaks down a venture is by one taking a traditional approach and with this one is able to get poor average results, high outcome volatility and also deep inefficient resource allocation. Some of the things that one should make sure that they have when they are thinking of having a corporate venturing, one should make sure that they overpay for the deals which they have, they harmonize their financial and also strategic imperatives, they build and also retain a quality and also qualified teams and they coordinate with the mother ship which is very good.