Innovation through collaborative teams can succeed or fail in large part based on resources dedicated to the venture. While many factors may ultimately impact success or failure, all else being equal, if more resources are allocated to a project, the risk that it fails is less. Whether or not managers are willing to dedicate those […]
Read More… from Balancing Incentives, Risk and Tolerance of Failure for Collaborative Innovation
In many organizations, collaborative innovation teams are utilized to manage new product development initiatives. This involves different types of managers (marketing, operations, engineering, etc.) working together to allocate resources to a project. This remains an effective way to spark innovation, but the process can be greatly enhanced by understanding the role that rewards and penalties […]
Read More… from Driving Risk Appetite Higher or Lower: Penalties Vs Rewards
