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Friday, August 03, 2018

Spending Innovation Budgets

I just was able to review  how we did this some years ago in the AI space.  Rings true.   I add: Spend what you can manage rather than looking for home runs was our take.   Manage expectations of decision makers.  Hype can be destructive.

The Right Way to Spend Your Innovation Budget  in the HBR   By Peder Inge Furseth, Richard Cuthbertson

Innovation is famously difficult — many projects end up losing money, frustrating employees, and going nowhere. And yet corporations and governments spend billions of dollars annually pursuing innovation. This huge spending would generate more value for businesses and societies if the innovation success rate were just a little higher. Is there a way to increase the success rate without spending more? ... " 

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